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Developer buys Washington Post building for $159M

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November 27, 2013 07:20 PM EST | AP

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WASHINGTON (AP) — The longtime headquarters building of The Washington Post is being sold to a real estate development company for $159 million.

Graham Holdings Co. is the former parent of The Washington Post newspaper. The company announced a deal Wednesday to sell the downtown Washington building to Carr Properties. The sale is expected to close at the end of March 2014.

Graham Holdings spokeswoman Rima Calderon says the newspaper will continue to lease space in the building at least until September 2015. The newspaper is now owned by Amazon.com founder Jeffrey Bezos and will be looking for a new home.

The newly renamed Graham Holdings is the former Washington Post Co. owned by Donald Graham. It now owns education and media businesses, including Kaplan education services and TV broadcasting and cable outlets.