3 Consumer Stock Stories Buzzing Along On Monday
The Washington Post Co. (NYSE: WPO): Closing price $568.70
On Monday, the Washington Post Co. said that it will sell its newspaper publishing divisions, including The Washington Post newspaper, to the Amazon.com Chief Executive Jeffrey P. Bezos, who is the purchaser in his individual capacity and not Amazon.com, Inc. Further, Slate magazine, TheRoot.com and Foreign Policy are not a part of this transaction and will remain with The Washington Post Co., along with the WaPo Labs and SocialCode units, the firm’s interest in Classified Ventures and certain real estate assets, including the headquarters building in downtown Washington. The Washington Post Co., which also owns Kaplan, PostNewsweek Stations and Cable ONE, will be changing its name, pursuant to the transaction; no new name has yet been reported. The purchase price is $250 million, subject to the usual working capital adjustments, payable at the close, later in 2013.
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