On Tuesday, Amazon.com founder Jeffrey Bezos officially took over as the owner of the Washington Post, ending an 80-year ownership run by the Graham family. The $250 million purchase was formally signed, delivering the newspaper and other assets to Bezos’ private investment company, the Washington Post reports. The deal for the paper, which has faced continued financial loses, was first announced in August.
Here’s more on what stays, and what goes, in the deal from the Post:
In addition to The Post nameplate and its Springfield, Va., printing plant, Bezos is acquiring the Spanish-language El Tiempo newspaper, the free-distribution Express daily newspaper, the suburban Washington Gazette weeklies and 23 acres of undeveloped land in Charles County, Md.
The Washington Post Co. will continue to operate as a separate company without The Post newspaper. It is the parent company for a variety of businesses, including cable TV systems, TV stations and the Kaplan education company. It will change its name to reflect the newspaper’s sale, but a new name hasn’t been announced yet.