Politics & Prose will soon have new owners: Bradley Graham and Lissa Muscatine, both former
Washington Post reporters who met at the paper, are married and have three children. The deal should close "later on this spring," the store said. The
Post estimated the sales price at $2 million.
The new owners were introduced yesterday at the store by Barbara Meade, longtime co-owner of the store with the late Carla Cohen, and by Cohen's husband, David Cohen. According to the
Post, Graham called his wife and himself the "owners-elect."
In a statement, Meade and Cohen said Graham and Muscatine "have the passion and wisdom to further strengthen Politics & Prose as a community institution that disseminates ideas and stands as a respected and revered public space. We are confident that they have the wherewithal and vision to sustain Politics & Prose for many years."
The owners-elect said, "We're very grateful for this opportunity, which we consider both a privilege and a responsibility. We will do everything we can to preserve P&P's special culture and traditions, while also looking for new ways to ensure that this great store remains relevant, influential, and technologically up-to-date."
The new owners plan to work full time in the store and called the staff the store's "greatest asset."
Graham told the
Post that he approached the idea of buying the store as a reporter might, visiting and speaking with booksellers like Chuck Robinson of Village Books, Bellingham, Wash. Robinson commented: "Brad's eyes were wide open. I don't think he has any great illusions of making a lot money, but if there's any bookstore in this country that has the potential of continuing to do well, it's Politics and Prose."
The store was put up for sale last June after Carla Cohen, who died in October, became seriously ill. Initially 20 groups expressed interest in buying Politics & Prose. One group included agent Raphael Sagalyn, former
New Republic editor Franklin Foer and Jeffrey Goldberg, a national correspondent for the
Atlantic. Another group was led by law professor Nicholas Kittrie and included 10 people, some of whom were in the publishing industry. Meade and David Cohen had spent nine months interviewing prospective owners and reduced the likely candidates to a half dozen.
At the
Post, Graham was a business reporter, foreign correspondent, editor and Pentagon correspondent. He has written two books,
By His Own Rules: The Ambitions, Successes, and Ultimate Failures of Donald Rumsfeld and
Hit to Kill: The New Battle over Shielding America from Missile Attack, both published by PublicAffairs, and is still working under contract to the
Post.
Before leaving the
Post in the early 1990s to become a speechwriter at the White House, Muscatine worked on foreign and national security affairs. Described by the
Post as "a longtime aide and confidante" to President Bill Clinton and Secretary of State Hillary Clinton, she collaborated on
Living History, Hillary Clinton's White House memoir, and was most recently the State Department's director of speechwriting.
Politics & Prose was founded 27 years ago. Carla Cohen had the original idea for the store and ran a newspaper ad for a store manager, which Barbara Meade answered. Meade soon became a full partner.