Washington Post appoints William Lewis as CEO; to reduce headcount by 10%
© Reuters. FILE PHOTO: The newspaper's banner logo is seen during the grand opening of the Washington Post newsroom in Washington January 28, 2016. REUTERS/Gary Cameron/File Photo -William Lewis, the former Dow Jones chief executive and publisher of The Wall Street Journal has been named chief executive and publisher of The Washington Post, the Post said on Saturday.
The Washington Post said that it is projected to end the year taking a $100 million loss. The publisher added that executives are offering buyouts across the company in an effort to reduce its head count by about 10 percent, the newsroom is expected to shrink to about 940 journalists. Lewis's appointment comes at a time when the media industry is grappling with a sluggish advertising market, low trust in news, and developments in generative AI technology that threaten to upend how people find and consume information.
Lewis is set to take on his duties from Jan. 2, 2024, replacing Patty Stonesifer, who became interim chief executive in June. The Post is owned by billionaire Amazon.com will also be removed; self-promotional material or business-related solicitations or PR , and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
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