Paul Farhi, reporting for the Washington Post:
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.
Bezos, whose entrepreneurship has made him one of the world’s richest men, will pay $250 million in cash for The Post and affiliated publications to The Washington Post Co., which owns the newspaper and other businesses.
In buying the Post, Bezos is getting a significant voice in Washington as well as a strong foothold in newspapers, one publishing industry in which he hasn’t had much influence. I’ll be curious to see what changes he makes—Bezos has been known for his long-term thinking and tolerance of thin profit margins, two qualities that are certain to be assets in the newspaper business.