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.
With Jeff Bezos set to take over The Washington Post, the big question is: Can he arrest its decline and deliver an economic model for the rest of the industry?
The Washington Post has a storied history as the house newspaper of the US political elite, and its journalists reported some of the 20th century’s biggest scoops, including the Watergate scandal.
The Washington Post, the legendary newspaper that broke the Watergate scandal, is being sold to Amazon founder Jeff Bezos as it seeks to survive the onslaught of the Internet.
The Washington Post Co. said Friday that circulation and advertising had weakened further at its flagship daily newspaper, as the company reported a quarterly loss linked to a write-down.