I have not seen the financial statements , but just in general, isn’t the newspaper business downsizing just about everywhere? Turn call newspapers in Major cities having to cut back expenses, cut back staff , in order to stay in business?
From what I hear, internet subscriptions to newspapers have not nearly filled the Gap caused by the decline in actual printed newspaper circulation.
And advertising income for newspapers has dropped way off in the past couple of decades.
Maybe these people think they are special because the Washington Post is special and is immune to market forces?
It's not even close. I coworker had worked for the New York Times advertising department back in the mid 2000s. They described meeting after meeting where the advertising revenue kept dropping while the online increase was only a fraction.
The New York Times paper subscription sells readers to high-end real estate companies, jewelry companies, fur coat companies, and tourism companies. It's near impossible to keep eyes on those ads online through all the noise.
Bezos from Amazon didn't buy the Washington Compost to make money; he bought it to make illegal political contributions-in-kind to Democrats in return for favors. He doesn't need much of a staff to do that.
Yes. Print media is dying. Back in the day I subscribed to the WaPo. I stopped that after 9/11 and their execrable journalism following that. And most major publications have not handled the transition to a revenue-generating on-line presence. There was another posting earlier this week that The Post has lost 500k subscribers in the last two years. What do these journos expect?!
And just FYI, I do still buy the hardcopy paper once or twice a week. But the New York Post only. Great sports section and fairly conservative op ed page.