Amazon founder Bezos buys Washington Post

Part of the aristocracy of U.S. newspapering is to be sold to a kid from New Mexico who made it big on the web. Jeff Bezos, controlling owner of Amazon will purchase the Washington Post. The paper's controlling owners, the Graham family, has agreed to sell its flagship newspaper for $250 million in cash. Bezos gets the The Post and affiliated publications to the Washington Post Co., which owns the newspaper and other businesses. Publisher Katharine Weymouth and chief executive Donald Graham released letters to staff late today. Seattle-based Amazon will have no role in the purchase; Bezos himself will buy the news organization and become its sole owner when the sale is completed, probably within 60 days. The Post Co. will change to a new, still-undecided name and continue as a publicly traded company without The Post thereafter. Jeffrey Preston "Jeff" Bezos (pronounced beɪzəs was born on January 12, 1964.  Mailonline