Jeff Bezos saved the Washington Post. Now he's cutting it.
Businessinsider reported that billionaire Jeff Bezos, once praised for saving The Washington Post, is now facing criticism after large cuts at the paper. The article notes many observers point out Bezos could afford to fund the paper's losses.
The cuts are described as brutal for readers, who lose coverage such as sports and international reporting, and for hundreds of employees. The Post lost $77 million in 2023, the piece says.
Bezos has not commented publicly; Post editor Matt Murray told staff the cuts are meant to help "reinvent The Washington Post for this new era." The author says the paper long relied on a billionaire's goodwill to cover losses.
The article places the Post in a wider industry context: a few wealthy-owned national outlets are doing well while local news faces "deserts." It argues that relying on billionaire bailouts is a hope, not a plan, and calls for new business models and ownership structures.