Jeff Bezos is buying The Washington Post, one of the leading newspapers in the country. The Amazon.com founder and chief executive is one of the wealthiest people in the United States. He will pay $250 million for The Post and a number of other publications — less than 1 percent of his wealth, which is estimated at more than $28 billion. Bezos is a friend of Donald Graham, chief executive of The Washington Post Company, whose family has owned the newspaper for eight decades. Over the past six years, the company’s newspaper division has seen a 44 percent drop in operating revenue. In addition to The Washington Post, Bezos will get a number of other Post-owned businesses, including the Gazette newspapers, Greater Washington Publishing and El Tiempo Latino. The deal does not include Slate.com or Foreign Policy magazine, which are owned by The Washington Post Company, the parent company, which also owns the test prep company Kaplan, and which will change its name following the sale of the paper. Bezos said management of The Washington Post newspaper will remain the same, but it is unclear what changes might be coming. Last year, Bezos was quoted in an interview with the German newspaper Berliner Zeitung saying: “There is one thing I’m certain about: There won’t be printed newspapers in 20 years. Maybe as luxury items in some hotels that want to offer them as an extravagant service. Printed papers won’t be normal in 20 years.” The announcement about Bezos’ purchase came just days after Boston Red Sox owner and billionaire John Henry entered an agreement to buy The Boston Globe newspaper from the New York Times Company for $70 million.
