Publisher Katharine Weymouth made the announcement at a hastily called meeting of the paper's staff on Monday. She will stay on as publisher, and editor Martin Baron will also retain his job.
The purchase is a personal one for Bezos, who is worth $23.2 billion. Amazon is not involved. The Washington Post Company's other media properties, such as Slate and The Root, are not being sold.
Post Co. CEO Donald Graham, whose family has owned the Post for generations, said in a statement that the economics of the print industry had led to the decision. The company's newspaper division has been facing tremendous struggles in recent years; in the first quarter of 2013, it lost $49.3 million.
Washington Post Sold To Amazon's Jeff Bezos:
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