The Washington Post is looking at a huge loss of $ 100 million in 2023. The paper has faced a big problem in the years of Trump but Joe Biden has been very bad for business.
Of course, the paper could have avoided some of this by being honest and covering up Biden’s scandals and perceived power over Trump, but they can’t do that.
Progressives have destroyed a once highly respected institution.
Washington Post Meets the Financial Buzzsaw
The Washington Post has serious problems, and this time, it’s not just losing the integrity of the outlet, although this is a green story.
The former newspaper is looking for a $100 million investment throw away in 2023 due to the increase in registration after the 2020 elections. It seems that Joe Biden is not good for business. For four years, the Post has celebrated the endless stream of stories surrounding Donald Trump as president. But in recent years, this has become less profitable.
10 years after The Washington Post was bought by Amazon founder and billionaire Jeff Bezos, the outlet “is on pace to lose $100 million in 2023,” according to a recent New York Times report.
Bezos acquired the Post for $250 million in 2013, one of the most significant acquisitions of the past decade. The Post’s famous slogan, “Democracy Dies in Darkness,” became the paper’s official slogan in 2017, under Bezos’ watch.
But it seems that even Bezos couldn’t turn The Post’s popularity with readers.
“The Post has struggled to increase paying customers since the 2020 election, when its digital subscriptions topped three million. Now it has about 2.5 million,” The Times wrote in an article titled, “Ten Years Ago, Jeff Bezos Bought the Newspaper. Now He’s Running It Again.”
The Washington Post has been a hit.
Remember when the news ran the 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 is very sad.