JEFF Bezos, the founder of Amazon.com, will buy the Washington Post newspaper for $250m, bringing the curtain down on its 80-year old ownership by the influential Graham family.
Bezos, who founded Amazon in 1994, will buy the newspaper and affiliate businesses in an all-cash deal, it emerged last night.
The internet entrepreneur told employees in a letter published on the newspaper’s website: “The values of The Post do not need changing. The paper’s duty will remain to its readers and not to the private interests of its owners.”
The deal marks the ends of the Graham family’s ownership of the newspaper, which has lasted for four generations after it was saved from bankruptcy in 1933.
The deal comes just days after the New York Times sold the Boston Globe for $70m to the owner of Liverpool football club.