Amazon founder Bezos to buy Washington Post

5:00 PM, Aug 5, 2013   |    comments
Jeff Bezos, CEO of Amazon, duringa press conference in this September 06, 2012 file photo in Santa Monica, California. The e-commerce giant announced July 29, 2013 that it plans to hire over 5,000 new workers in the US to work in its fulfillment centers, handling and processing customer orders. The company is also adding 2,000 jobs in customer service in several locations in the US. The announcement comes ahead of President Barack Obamas visit Tuesday to Amazons Chattanooga, Tennessee fulfillmen
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WASHINGTON (AP) - Amazon.com founder Jeff Bezos is buying The Washington Post and other newspapers for $250 million.

The longtime publisher, The Washington Post Co., announced the deal Monday. Bezos is buying the paper as an individual. Amazon.com Inc. is not involved.

Washington Post chairman and CEO Donald Graham called Bezos a "uniquely good new owner." He said the decision was made after years of newspaper industry challenges. The company, which owns the Kaplan education business and several TV stations, will change its name but didn't say what the new name will be.

Bezos said in a statement that he understands the Post's "critical role" in Washington and said its values won't change.

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