The Washington Post Company's other businesses will remain with the company, including Kaplan Inc., Slate magazine, TheRoot.com, Foreign Policy, and WapoLabs. The Washington Post Company also owns six television stations, including two affiliates of ABC News: WPLG in Miami, and KSAT in San Antonio.
Despite the newspaper's heralded past and list of Pulitzer prizes, it has had more difficulty than some of its peers in adjusting to a digital news environment, such as instituting a pay wall for subscribing readers, Feng said.
Almost forty years ago, the Post's reporters Bob Woodward and Carl Bernstein reported that Richard Nixon's administration attempted to cover-up a break-in at the Democratic National Committee headquarters at the Watergate office complex, leading eventually to Nixon's resignation in Aug. 1974.
"We think there's room for only a few papers to generate national subscriber revenue. Among The New York Times and the Wall Street Journal, the Washington Post was having trouble putting themselves on that level," Feng said.