Bezos Nears Decision for Next Leader of The Washington Post, Reaffirming His Dedication to the Paper

The Washington Post is on the brink of a new era.

The broadsheet, which experienced a significant increase in readership during Donald Trump's tumultuous presidency but has faced challenges in retaining its audience, is preparing to introduce a new chief executive and publisher in the near future.

According to a reliable source, owner Jeff Bezos is in the final stages of selecting a candidate and is expected to reveal the chosen individual in November. A recent report by Puck's Dylan Byers suggested that the announcement of the selected candidate could happen within days.

Whoever is chosen by Bezos for the task will encounter significant challenges. In a recent communication with employees, interim CEO Patty Stonesifer acknowledged that the company had exceeded budgeted expenses under former CEO Fred Ryan. Despite The Post being a strong business, Stonesifer mentioned that efforts have been made to align it with the appropriate scale.

The declining audience of The Post contributes to some of these issues. Stonesifer revealed that readership has sharply declined following Trump's departure from the White House, with a staggering 28% decrease in digital audience since 2021. Additionally, digital subscriptions have reduced by 15%, according to Stonesifer.

The harsh reality has resulted in financial difficulties for the renowned newspaper, which is projected to lose $100 million this year. As a result, executives recently made the decision to address the issue by announcing a 10% reduction in the workforce through voluntary buyouts. During a town hall meeting held by Executive Editor Sally Buzbee, she assured concerned Post employees that she anticipates retaining 940 journalists throughout the company until 2024. However, she acknowledged the challenge of bidding farewell to a significant number of newsroom staff.

"Its not going to be easy to lose valued colleagues," Buzbee told the gathered staff, according to those who were there.

A general view of the Washington Post building in downtown Washington, D.C., on Wednesday, July 13, 2022.

Graeme Sloan/Sipa USA/AP

During the meeting, Buzbee emphasized the need for The Post to prioritize the development of digital workflows. Instead of focusing primarily on the print edition, as it has done historically, The Post should shift its focus towards being more engaging for new audiences and enhancing its offerings to retain them.

Buzbee referenced a message from Bezos to senior leadership, stating that the organization should be "tactically impatient and strategically patient" in order to achieve its long-term goals.

Bezos personally reached out to The Post journalists on Thursday, expressing his excitement about his time at The Post and his appreciation for their important work. He reassured his commitment to the future of The Post but emphasized the need for financial stability. Bezos believes that returning to profitability is crucial in demonstrating that The Post is meeting the needs and interests of its readers. He encourages the teams to continue producing high-quality reporting, stating that he is confident they will achieve financial success if they understand their readers and deliver valuable content.

Reaching that point will not be easy. Media companies, in general, are facing significant challenges as they navigate a rapidly evolving landscape that poses serious threats to their businesses.

In particular, The Post has a considerable amount of work ahead of them.

Expanding the D.C.-focused outlet's reach is undoubtedly a topic that will be discussed. It is widely known that the acquisition strategy implemented by The New York Times in recent years has caused disappointment among certain employees at The Post, who had hoped that Ryan (referring to a person) would have pursued similar approaches. Will The Post now take its own steps forward with new leadership at the helm?

"A seasoned staff member at The Post informed me that once we receive approval to proceed with acquisitions, there will be ample opportunities for growth."

However, The Post is not the only one facing challenges. Traditional newspapers nationwide, terrestrial broadcasters, CNN, and even newer digital platforms are all struggling to adapt to new revenue models that will support their newsrooms in the long run. The significant decline in their traditional business not only poses a threat to the future of journalism but also has far-reaching consequences for society as a whole.

Echoing its mission, The Post boldly declares, "Democracy perishes in the absence of light."