Washington Post going down for the count

 

Katharine Graham's great legacy gone to shit.

Aug. 5, 2013 — -- Amazon CEO Jeffrey Bezos is buying The Washington Post newspaper, which broke the Watergate scandal and drove a president out of office, and its affiliated publications for $250 million.

The sale ends the Graham family's ownership of the flagship newspaper.

[...]

"Everyone at the Post Company and everyone in our family has always been proud of The Washington Post — of the newspaper we publish and of the people who write and produce it," Donald E. Graham, chairman and CEO of The Washington Post Company, said in a statement. "I, along with Katharine Weymouth and our board of directors, decided to sell only after years of familiar newspaper-industry challenges made us wonder if there might be another owner who would be better for the Post (after a transaction that would be in the best interest of our shareholders). Jeff Bezos' proven technology and business genius, his long-term approach and his personal decency make him a uniquely good new owner for the Post."

[...]

"I understand the critical role the Post plays in Washington, D.C .and our nation, and the Post's values will not change," Bezos said in a statement. "Our duty to readers will continue to be the heart of the Post."

  ABC

I wonder what Donald Graham is thinking now.

Don't sell your paper to a billionaire.