A real estate investment company is buying the longtime headquarters of the Washington Post on 1150 15th St. NW in Washington, D.C. for $159 million. Yes, for those keeping track at home that amounts to $91 million less than what Amazon boss Jeff Bezos paid for the newspaper and its other print properties. The Washington Post Co., which will be changing its name to Graham Holdings Co. this week, reached an agreement to sell the building and its adjacent land to Carr Properties in a deal that is scheduled to close in March, reports Bloomberg.
The newspaper will lease its newsroom from the building’s new owners while it proceeds with the search for a new headquarters, notes Reuters. The Graham Holdings, which owns several businesses—including Kaplan education services, several television stations and the Slate Group, among others—will officially begin to use its new name and stock symbol on Friday.