(Dan Farber/Creative Commons/Flickr)

Amazon will not play a role in the sale, as Bezos will personally buy The Post and become its sole owner within the next two months. Donald Graham, chief executive of The Post Co., said that the mere thought of selling the paper shocked everyone in his family.

“The Post could have survived under the company’s ownership and been profitable for the foreseeable future. But we wanted to do more than survive," said Graham. "I’m not saying this guarantees success, but it gives us a much greater chance of success.”

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Katharine Weymouth, Graham's niece and current publisher of The Washington Post, will keep her position under Bezos, and no layoffs are expected as a result of the sale. Bezos, who has never managed a news organization, is also buying several other smaller newspapers in the D.C. area, including The Gazette and The Express. Other Post Co. publications, such as Slate Magazine, are not included in the sale.

Bezos' purchase comes during a crossroads point for traditional print publications following the rise of online news. Rick Edmonds, a media analyst at The Poynter Institute, told USA Today that Bezos, who has gained a reputation for making bold technology business ventures, could be a major help to the Post. 

"Having quite a lot of expertise in technology and technology enterprises, generally, plus being friendly with Don Graham, all those things may add up to making it real attractive to him," he said. 

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