<em>The Washington Post</em> is now in its seventh straight year of declining revenues, says the paper's chairman, Donald Graham. Rather than continue to watch the paper struggle, Graham and Publisher Katharine Weymouth decided to look for a buyer.
Donald Graham, chairman of The Washington Post Co., is the son and grandson of its leaders for the past 80 years. And along with his niece, publisher Katharine Weymouth, Graham admitted in a video on The Post's website that the family simply didn't have the answers to questions about the paper's future.
Originally published on Tue August 6, 2013 8:03 am
View of the front page of the October 30, 2009 edition of The Washington Post.
Credit Nicholas Kamm / AFP/Getty Images
The Washington Post Co. will sell its flagship newspaper and one of the most respected news organizations in the country to Amazon.com founder Jeffrey P. Bezos, the company announced in a press release. The Post has been a family-owned business for four generations.
Amazon, the company said, will play no role in the purchase. Bezos is making the purchase personally.
Mackenzie Bezos and Jeff Bezos, founder and chief executive officer of Amazon.com attend the "Schiaparelli And Prada: Impossible Conversations" Costume Institute Gala at the Metropolitan Museum of Art.
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The daily lowdown on books, publishing, and the occasional author behaving badly.
Mackenzie Bezos, the author of the novel Traps and the wife of Amazon founder Jeff Bezos, defended the company publicly for the first time to The Times [paywall protected], calling it "great for authors and books." She herself is not published by Amazon.