General Discussion

A Decade Ago, Jeff Bezos Bought a Newspaper. Now He’s Paying Attention to It Again. - NYT
July 22, 2023

These days, Mr. Bezos knows more about the news business. And in recent months, he has become more involved with The Post’s operations, stepping in as staff morale cratered and the business struggled.

Mr. Bezos has said he wants The Post to be profitable, but it is unlikely to reach that target this year.

The Post is on a pace to lose about $100 million in 2023, according to two people with knowledge of the company’s finances; two other people briefed on the situation said the company was expecting to miss its forecasts for ad revenue this year. They spoke on the condition of anonymity to discuss internal financial matters. The Post has struggled to increase the number of its paying customers since the 2020 election, when its digital subscriptions peaked at three million. It now has around 2.5 million.

A spokesperson for Mr. Bezos declined to make him available for an interview. Patty Stonesifer, The Post’s interim chief executive, said Mr. Bezos was happy with “every dollar invested” in the company. One person familiar with Mr. Bezos’ plans said The Post had planned for 2023 to be a “year for investment.”

https://archive.ph/iw630 or https://www.nytimes.com/2023/07/22/business/media/jeff-bezos-washington-post.html