Washington Post To Sell Newspaper Publishing Businesses To Jeffrey Bezos

(RTTNews) - The Washington Post Co. (WPO) said Monday that it has signed a contract to sell its newspaper publishing businesses, including The Washington Post newspaper, to Jeffrey P. Bezos, founder, chairman and CEO of Amazon.com Inc. (AMZN).

The purchaser is an entity that belongs to Bezos in his individual capacity and is not Amazon.com, Inc.

The purchase price is $250 million, subject to normal working capital adjustments, payable at closing later this year.

The deal covers The Washington Post and other publishing businesses, including the Express newspaper, The Gazette Newspapers, Southern Maryland Newspapers, Fairfax County Times, El Tiempo Latino and Greater Washington Publishing.

Bezos has asked Katharine Weymouth, CEO and Publisher of The Washington Post; Stephen P. Hills, President and General Manager; Martin Baron, Executive Editor; and Fred Hiatt, Editor of the Editorial Page to continue in those roles.