Amazon founder and CEO Jeff Bezos just purchased the Washington Post company. The purchase also includes the company’s  national newspaper all for the low price of $250 million, which came straight from the CEO’s pocket. It was done on Bezos’ personal gain and will have nothing to do with Amazon.

The buy ends the reign of Graham family’s ownership of the company which they had for 80 years.  The deal also transfers Express newspaper, The Gazette newspapers, Southern Maryland newspapers, the Fairfax County Times, El Tiempo Latino, and Greater Washington Publishing into Bezos’ control. However, Slate magazine, TheRoot.com, and Foreign Policy magazine will not be apart of the deal and will stay with the Post Company. The good news for all staff at the Washington Post is everyone will keep their jobs.

Can Bezos bring back the light to a declining industry known as the Newspaper business only time will tell.
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