Washington Post used to be very influential and profitable. Jeff Bezos, who bought the newspaper in 2013, became aware of the fact that legacy media (including his newspaper) was losing ground. He said, "Americans Don't Trust the News Media."
He started taking bold steps to turn the paper around, probably hoping to hold off a loss in profit that would accompany the loss of trust. In 2024 he decided they would not endorse a presidential candidate (and lost 200,000 subscribers). In 2025 he told them to write about liberty and free markets (and an angry editor quit his job).
Bezos (photo) could not avoid or hold off staggering losses. The paper lost $77 million in 2023, $100 million in 2024, and another $100 million in 2025.
What business could swallow loss on that scale? Only a business owned by a billionaire who could absorb those losses, perhaps. Changes had to be made.
Earlier this year he fired over 300 reporters, a massive 44% reduction . . and then another 60,000 online subscribers quit.
We're watching legacy media in free fall.
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