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Washington Post for $250M

In a transaction rich in symbolism, digital billionaire Jeff Bezos, the founder and CEO of Amazon.com, has agreed to buy one of the nation's best and best-known legacy media publications, The Washington Post. Bezos, who is paying $250 million in cash, is handling the deal individually, and the fabled newspaper will not be part of online retailer Amazon.com. UPDATE: 'Post' stock gets boost The sale comes against the backdrop of the digital revolution, which has transformed the way people consume news and profoundly disrupted the newspaper business. In a letter to Washington Post staffers Monday addressing concerns in the newsroom over the sale of the family-owned newspaper, Bezos said, "The values of the Post do not need changing."

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