Amazon's chief executive officer, Jeff Bezos, has entered an agreement to buy the publishing businesses of the Washington Post for US $250 million. The Washington Post will not become a part of Amazon.com and is a private venture of Jeff Bezos.

Jeff Bezos already showed its interest in news publishing with a $5 million investment in Web news publication, Bussiness Insider. The deal with the Washington Post includes flagship newspaper that has been stuggling lately as it was in the family ownership for more than a few decades but does not include digital assets of the company that include Slate magazine and TheRoot.com. The Washington Post's chairman and CEO Donald E. Graham only had praise for Bezos, noting that his "proven technology and business genius, his long-term approach, and his personal decency make him a uniquely good new owner for the Post."

Donald E. Graham also noted that "the Post's values will not change" and that "Our duty to readers will continue to be the heart of the Post, and I am very optimistic about the future." In a letter to Post employees, Jeff Bezos noted that the editorial leadership at the Post will continue their day-to-day activities, as he will still remain focused on his job at Amazon.

Dan Kurnos, an analyst with Benchmark noted that this deal might become something good saying that "If he can do with newspapers what he's done with e-books, then he's going to have a massive cash flow machine."

Source: Hardocp.com.