- Jeff Bezos is taking an increasingly active role in the Post’s operations, according to The New York Times.
- The Amazon founder and former chief executive made an unusual visit to the newsroom earlier this year.
- Bezos has sought to make the Post an international force and has encouraged digital experimentation.
Former Amazon CEO and president Jeff Bezos has become increasingly involved in running the Washington Post, the venerable newspaper he acquired for $250 million a decade ago. According to the New York Times.
For the past few years, Bezos’ representatives have kept a tight eye on budgets, but as the publication faces financial headwinds and internal opposition, Bezos has recently taken a more aggressive approach.
Boosted by the Trump administration’s lightning-fast news cycle, the Post boasted three million digital subscribers by early 2021 and had more than 1,000 employees, up from about 580 before Bezos invested in the paper.
But according to The Times, it currently has 2.5 million digital subscribers, and the paper has stumbled on growing that number.
The Times report said it expects to lose $100 million this year, according to two people familiar with its financial situation who spoke to the Times. Two other people also told The Times that the Post is expected to underperform its advertising revenue projections for this year.
The Post’s interim chief executive, Patti Stonesifer, told The Times that Bezos was excited about “every investment” in the company. A person familiar with Mr. Bezos’ vision for the Post said 2023 will be an “investment year” for the newspaper.
“I am very passionate about what we can do for The Washington Post over the next decade,” Stonecifer said in a statement. “Jeff’s 20 years of ownership of the Post should be even more exciting.”
When Bezos bought the Post in 2013, it marked the end of an era for the newspaper. The paper has been run by the Graham family for generations, and as its custodian it rose to monumental heights with its coverage of Watergate and the Pentagon Papers.
When Bezos first bought the paper, he hoped to encourage digital experimentation and make the Post an international powerhouse.
After Bezos first bought the Post, his clout in the newsroom faded, according to two people who spoke with The Times.
But amidst rising morale, editor Sally Busby, who helped Bezos find a replacement for veteran editor Marty Barron, reached out to the Amazon founder to discuss the issue.
In January, Mr. Bezos made an unusual visit to the newsroom, attended a morning meeting and later met with several reporters from the newspaper. Journalists reportedly discussed with Bezos about some major newsroom issues with the paper’s publisher, Fred Ryan. announced He plans to resign from the position later in the summer.
Mr. Bezos has continued to look ahead, trying to leave his mark on the newspaper’s vision. The Times said he is considering an experimental project for an opinion column, and a full overhaul of the Times’ style column is expected later this year.
Sally Quinn, a longtime reporter for the Post and widow of Post legend Ben Bradley, told The Times she had a newfound optimism about the newsroom.
“There is a sense of hope that we haven’t felt in a long time,” she said.