Washington Post Co. to become Graham Holdings

Parent company of WJXT-TV to change name to reflect sale of newspaper

By Associated Press report edited by Steve Patrick, News4Jax.com managing editor
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NEW YORK - The Washington Post Co. is changing its name to Graham Holdings to reflect the sale of its namesake newspaper.

The switch will become official on Nov. 29, and its New York Stock Exchange ticker symbol will change to "GHC" from "WPO."

Washington Post Co. closed the sale of most of its newspaper business to Amazon CEO Jeff Bezos on Oct. 1. Bezos reached a deal to buy the venerable Capital broadsheet and other newspapers from the Graham family for $250 million in August.

The company's remaining holdings include the Kaplan education business; WJXT-TV and five other television stations and Phoenix-based Cable One; Slate and Foreign policy magazines, and TheRoot.com; home health care provider Celtic Healthcare, and Forney Corp., which serves the electric utility sector.

"We're profitable today and have resources and flexibility to grow tomorrow," CEO Donald Graham wrote in a letter to employees on Monday morning.

Shares of the company slipped 74 cents to $653.85 in morning trading.

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