Amazon Founder Jeff Bejos Buys The Washington Post For $250 million and also included Express newspaper. The Washington Post Co. agreed Monday to sell its flagship newspaper to Amazon.com founder and chief executive Jeffrey P. Bezos, ending the Graham family’s stewardship of one of America’s leading news organizations after four generations.
Donald E Graham, He is the chairman and CEO of The Washington Post and the third generation of the Graham family to lead the paper told to staff about this sale. It is the suprise deal which shocking in the business industry.
According to BBC "Years of familiar newspaper-industry challenges made us wonder if there might be another owner who would be better for the Post," said Post chief executive, Donald Graham.
"Jeff Bezos' proven technology and business genius, his long-term approach and his personal decency make him a uniquely good new owner for the Post."
According to Nytimes, “Newspapers are not really much creatures of the marketplace anymore,” said Mr. Doctor. “They’re not throwing off much in profits. They need shelter from the pressure of quarterly financial statements and reports.”
According to wtlx, "Slate magazine, TheRoot.com and Foreign Policy are not part of the deal and will remain with The Washington Post Co. "Everyone at the Post CompanyCo. and everyone in our family has always been proud of The Washington Post – of the newspaper we publish and of the people who write and produce it," said Donald Graham, Chairman and CEO of The Washington Post Co.
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