Amazon founder Jeff Bezos is now officially the owner of The Washington Post. The deal closed on Tuesday. Bezos purchased the paper for $250 million from The Graham family, the paper’s owners for the past 80 years.
Bezos will lead the paper from afar, as he will remain CEO of Amazon. The Post‘s executive staff including publisher Katharine Weymouth and executive editor Martin Baron will remain in place.
Here is more from The Washington Post‘s report on the deal:
The Post’s new owner hasn’t disclosed specific plans or changes he intends to make for the money-losing paper. But in earlier interviews and on a two-day visit to The Post’s downtown Washington headquarters in early September, he suggested that he’ll provide a financial cushion — or “runway” — that will allow The Post time to conduct experiments that could lead to a successful business model.