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Covington Advises Washington Post in Acquisition of Slate

December 22, 2004

WASHINGTON, D.C., December 22, 2004 -  Covington & Burling advised The Washington Post Company on its agreement with Microsoft Corp. to acquire Slate, the pioneering  online magazine.  Slate Magazine, which appears on the MSN webpage, has been owned and operated by Microsoft since its launch in 1996.

Under the terms of the deal, Washingtonpost.Newsweek Interactive LLC (WPNI), a subsidiary of The Washington Post Company, will run the business operations of Slate.  Jacob Weisberg will remain as editor and Cliff Sloan, Vice President, Business Development and General Counsel of WPNI, will serve as publisher.  WPNI also publishes washingtonpost.com and Newsweek.com online.

Michael Cutler and Stuart Irvin led the Covington team.  The Washington Post Company legal team included Diana Daniels, General Counsel of The Washington Post Company, and Cliff Sloan, General Counsel of WPNI.

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