Former Amazon chief executive and president Jeff Bezos has become increasingly involved in the operations of The Washington Post, the venerable newspaper that he purchased for $250 million a decade ago, according to The New York Times.
In past years, representatives of Bezos kept close tabs on the budget, but Bezos has recently taken a more active approach as the publication has encountered economic headwinds and internal dissent.
By early 2021, The Post boasted 3 million digital subscribers, fueled by the lightning-speed news cycles of the Trump administration, and had more than 1,000 employees — up from about 580 staffers before Bezos’ investment in the newspaper.
But digital subscriptions now sit at 2.5 million, and the newspaper has stumbled in boosting that figure, according to The Times.
The Times report noted that The Post was set to lose $100 million this year, according to two individuals with knowledge of The Post’s financial situation who spoke to the newspaper. Two other individuals also told The Times that The Post was projected to miss its advertising revenue estimates for the year.
Patty Stonesifer, the interim chief executive for The Post, told The Times that Bezos was thrilled with “every dollar invested” in the company. And an individual with knowledge of Bezos’ vision for The Post said that 2023 would be a “year for investment” for the newspaper.
“I’m very enthusiastic about what we can do here at The Washington Post in the decade ahead,” Stonesifer said in a statement. “Jeff’s second decade of ownership of The Post should be even more exciting.”
When Bezos bought The Post in 2013, it was the end of an era for the newspaper, which for generations had been run by the Graham family, whose stewardship saw the paper ascend to monumental heights with its Watergate and Pentagon Papers coverage.
Bezos encouraged digital experimentation when he first bought the newspaper, angling to make The Post into an international powerhouse.
After Bezos’ initial purchase of The Post, his influence was less visible in the newsroom, according to two individuals who spoke with The Times.
But as morale cratered, editor Sally Buzbee — whom Bezos had helped select to succeed veteran editor Marty Baron — reached out to the Amazon founder to discuss the problem.
In January, Bezos made an unusual visit to the newsroom, attending a morning meeting and later meeting with several journalists at the paper. The journalists reportedly spoke with Bezos about some larger newsroom issues with Fred Ryan — the newspaper’s publisher — who in June announced that he would step down from his position later in the summer.
Bezos has continued to look ahead as he seeks to put his imprint on the newspaper’s vision. He is mulling over an experimental project for the opinion section, and an overhaul of the paper’s Style section is expected later in the year, according to The Times.
Sally Quinn, a longtime journalist at the newspaper and the widow of Post legend Ben Bradlee, told The Times that she had renewed optimism for the newsroom.
“There’s a sense of hope, which we haven’t had for a long time,” she said.
