Washington Post Publisher Katharine Weymouth has “taken charge” at the Washington Post, the New York Times Magazine this weekend proclaimed. The Times Magazine produced a glowing profile of Weymouth, complimenting her for being a working mother, a skier, a cook and a fitness buff.
And then, come Monday, the news broke that Weymouth’s family, the Graham family, would be selling the Post to Amazon founder Jeffrey Bezos after owning the paper for four generations. Weymouth will stay on as publisher and executive editor Marty Baron will retain his job too.
The sale, Weymouth wrote, came “with a heavy heart but with an absolute conviction that Mr. Bezos’ ownership represents a unique and extraordinary opportunity for The Washington Post and for you, our readers,” Weymouth said in a letter to readers.
The Post isn’t the only legacy media brand to change hands this week. Bezos bought the Post and the company’s other print publications for $250 million. This is more than the $70 million that Red Sox owner John Henry will pay for the Boston Globe. Newsweek also exchanged hands last week, but the price tag wasn’t made public. None of these deals come close to the $1.1 billion that Yahoo! paid for Tumblr earlier this year.