The Washington Post Company has agreed to sell the newspaper to Amazon.com founder and chief executive Jeff Bezos.
Bezos will pay US$250 million for The Post and all affiliated publications to the Washington Post.
This sale will result in the end of the Graham family four-generation ownership of one of America's leading news sources.
According to the Washington Post, the "Seattle-based Amazon will have no role in the purchase; Bezos himself will buy the news organisation and become its sole owner when the sale is completed, probably within 60 days.
The Post will change to a new, still-undecided name and continue as a publicly traded company without The Post thereafter.
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