Here is the letter that was dispatched to WaPo employees today from Katharine Weymouth:
This is a day that my family and I never expected to come. The Washington Post Company is selling the newspaper it has owned and nurtured for eight decades.
In addition to The Washington Post, the company is selling Greater Washington Publishing, the Gazette newspapers, Express, El Tiempo Latino and Robinson Terminal.
The buyer is one of America’s great innovators and most respected business leaders, Jeff Bezos, chief executive officer and founder of Amazon.com. Jeff is making this acquisition in his personal capacity and not as part of Amazon.
In his own remarks, Don has addressed why the company has made this decision. I want to focus on the future. I firmly believe that today’s announcement represents a remarkable opportunity for us, unique among media companies. In Jeff we have found an owner who believes in The Post as a business but also cares deeply about the role it serves in our society.
Jeff is widely known, of course, as the founder and CEO of Amazon. He is a proven entrepreneur who, like the Graham family and this company, takes the long-term view in his investments. While he expects The Post to remain profitable, his focus is on the essential role that our journalism has on dialogue and the flow of information in our society.
Jeff knows as well as anyone the opportunities that come with revolutionary technology when we understand how to make the most of it. Under his ownership, we will be able to accelerate the pace and quality of innovation.
I am incredibly proud of the work that we have done together over the past 5 years, and I know that sentiment is shared by the entire senior management team. Read more