The Washington Post predicts a massive loss of $100 million by 2023. The paper boomed during the Trump years, but Joe Biden has been terrible for business.
Of course, the paper could have avoided some of this by honestly reporting and covering the Biden scandals with the same energy they obsess over Trump, but they won’t.
Progressives have ruined this once highly respected organization.
RedState reports:
The Washington Post is facing a financial buzzsaw
The Washington Post is in big trouble, and this time, it’s not just the outlet’s loss of credibility, although that’s a perennial theme.
The one-time newspaper is being pegged at $100 million loss in 2023 due to the continued hemorrhage of subscribers after the 2020 election. Apparently, Joe Biden is not good for business. For four years, the Post enjoyed an endless stream of stories about Donald Trump as president. In more recent times, this has not been so lucrative, however.
10 years after The Washington Post was bought by Amazon billionaire Jeff Bezos, the outlet is “on pace to lose about $100 million by 2023,” according to a recent New York Times report.
Bezos took over the Post for $250 million in 2013, in one of the biggest media acquisitions of the past decade. The Post’s famous saying, “Democracy dies in darkness,” became the paper’s official slogan in 2017 under Bezos’ watch.
But it seems even Bezos couldn’t reverse The Post’s popularity with readers.
“The Post has struggled to grow paying customers since the 2020 election, when its digital subscriptions peaked at three million. Now it has about 2.5 million,” The Times wrote in a story headlined: “A decade ago, Jeff Bezos bought a newspaper. Now he’s paying attention again.”
The Washington Post has become a punchline.
Remember when this news outlet ran a multi-million dollar Super Bowl ad narrated by Tom Hanks about how their reporting protects our democracy? https://t.co/np71PAWmXm
— Oilfield Rando (@Oilfield_Rando) July 22, 2023
It’s pretty sad.
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