Sale Of Washington Post To Jeff Bezos Finalized

Sold! To the Amazon owner for $250 million.

The sale of the Washington Post to Amazon founder Jeff Bezos is done and dusted. The news was reported in, where else, the Washington Post itself, after the $250 million deal was tied up on Tuesday night, transferring the newspaper from the Washington Post Co. to Nash Holdings, Bezos's private investment company.

The Amazon founder, who puts the success of the online retailer down to three things, "Put the customer first. Invent. And be patient," has not revealed his plans for the paper, but it is thought that his investment will provide a "financial cushion" for the newspaper to experiment with ways in which to make it profitable.

As well as the newspaper, Bezos gets a printing plant in Virginia, Spanish-language El Tiempo newspaper, the Washington Gazette weeklies, and 23 acres of undeveloped land in Maryland.

[Image: Flickr user dionhinchcliffe]

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