The founder of Amazon has personally bought The Washington Post and other newspapers for $250m (£163m).
Longtime publisher, The Washington Post Co, announced the deal with Jeff Bezos on Monday.
Mr Bezos is buying the paper as an individual, and Amazon.com Inc is not involved in the sale.
Donald Graham, Washington Post chairman and CEO, called Mr Bezos a "uniquely good new owner".
He said the decision to sell was made after years of newspaper industry challenges.
The company, which owns the Kaplan education business and several TV stations, will change its name.
Mr Bezos said in a statement that he understands the Post's "critical role" in Washington and said its values will not change.
"The paper's duty will remain to its readers and not to the private interests of its owners," he said.
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