Jeff Bezos, the founder of Amazon, closed a $250 million deal Tuesday to acquire The Washington Post, ending the longstanding ownership of the renowned Graham family, the newspaper announced.
The 49-year-old Internet entrepreneur announced a plan in August to take the newspaper private, and seek to reverse the declines experienced at the Post as digital news takes hold.
Tuesday’s confirmation came in a short statement from the publicly traded Washington Post Co, which will retain its television and educational operations.
“The Washington Post Company announced today that it has completed the sale of its newspaper publishing businesses to Jeffrey P Bezos,” it said.
