The Washington Post Co.
said Bezos is acquiring the company in his "individual capacity" and that it will not be part of Amazon.
"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," stated Washington
Pos. Co. Chairman-CEO Donald Graham.
“I understand the critical role the Post plays in Washington, DC and our nation, and the Post’s values will not change,” Bezos
stated. “Our duty to readers will continue to be the heart of the Post, and I am very optimistic about the future.”
He said he asked Katharine Weymouth,
CEO and Publisher of The Washington Post; Stephen P. Hills, President and General Manager; Martin Baron, Executive Editor; and Fred Hiatt, Editor of the Editorial Page to continue in
those roles.
The transaction covers The Washington Post and other publishing businesses, including the Express newspaper, The Gazette Newspapers, Southern
Maryland Newspapers, Fairfax County Times, El Tiempo Latino and Greater Washington Publishing.
Slate magazine, TheRoot.com and Foreign Policy are not part of the
transaction and will remain with The Washington Post Company, as will the WaPo Labs and SocialCode businesses, the Company’s interest in Classified Ventures and certain real
estate assets, including the headquarters building in downtown Washington, DC. The Washington Post Company, which also owns Kaplan, Post–Newsweek Stations and Cable ONE, will be
changing its name in connection with the transaction; no new name has yet been announced.
The purchase price is $250 million, subject to normal working capital adjustments, payable at
closing later this year.