"The Graham family, which had owned the Post forever, was an amazing steward for the paper. But they had to scale back their newsroom, because the internet had blown holes in classified ads. Classifieds used to be huge at The Washington Post. At the time Bezos bought it in 2013, it was not dysfunctional. These were really good journalists, but the paper was in a bit of a funk. It wasn't a reclamation project, but it had seen better days."
"Lots of people are angry at Jeff Bezos because of the massive cuts he's ordered at his Washington Post. But a decade ago, Bezos was widely celebrated for his ownership of the Post, which he had bought for $250 million in 2013. Under Bezos' ownership, the Post made huge investments in tech and staff. And readers loved the results - especially during the first Trump era, when the paper turned profitable."
The Washington Post was purchased by Jeff Bezos for $250 million in 2013 after a period of decline driven by lost classified revenue. Significant investments in technology and newsroom staff followed, producing popular journalism and profitability during the first Trump administration. In recent years the paper has reported large financial losses. A series of moves interpreted as a political shift toward Trump prompted reader revolts and accelerated revenue problems. Those financial strains and audience backlash have culminated in major staff cuts and a substantially different operational posture than during the paper's earlier post-acquisition success.
Read at Business Insider
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