The Post is projected to end the year with a $100 million loss, and executives are offering buyouts to reduce the company's headcount by about 10%.
The Washington Post is grappling with financial difficulties, a rapidly changing media landscape, and a looming presidential election.
William Lewis, former editor of The Telegraph and CEO of Dow Jones, has been appointed as the publisher and CEO of the Washington Post.
William Lewis, former editor of The Telegraph and CEO of Dow Jones, has been appointed as the publisher and CEO of the Washington Post. Lewis, who also served as the publisher of the Wall Street Journal from 2014 to 2020, is set to assume his new role on January 2, 2024.
The appointment comes at a challenging time for the Washington Post, which is grappling with financial difficulties and a rapidly changing media landscape. The newspaper has seen a decline in readership and high expenses, which have impacted morale. The Post is projected to end the year with a $100 million loss, and executives are offering buyouts to reduce the company's headcount by about 10%.
The media industry is currently facing challenges such as a sluggish advertising market, low trust in news, and developments in AI technology. These factors, coupled with the looming presidential election, add to the complexity of the situation.
In addition to his extensive experience in the media industry, Lewis is currently an entrepreneur with The News Movement, a start-up delivering non-partisan news to a young audience. He is also the founder, CEO, and publisher of Gen-Z focused The News Movement. His experience in leading news organizations and his entrepreneurial ventures are expected to bring a fresh perspective to the Washington Post.
The appointment comes at a challenging time for the newspaper, which is grappling with financial difficulties, a rapidly changing media landscape, and a looming presidential election.
The Washington Post has seen a decline in readership and high expenses, which have impacted morale.
Lewis is the founder, CEO, and publisher of Gen-Z focused The News Movement.