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Jeff Bezos Bets $250 Million on Reviving Washington Post

The Washington Post will be sold for $250 million to Amazon.com Inc. Chief Executive Officer Jeff Bezos, who is betting he can apply his success in e-commerce to the struggling newspaper industry.

Bezos is making the deal as an individual and not as part of Amazon, the world’s biggest online retailer, according to a statement yesterday. Current owner Washington Post Co., which isn’t selling its Kaplan education division and other businesses as part of the transaction, now plans to change its name.