Deals
Jeff Bezos Bets $250 Million on Reviving Washington Post
This article is for subscribers only.
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.