The ex-Dow Jones executive recently co-founded The News Movement, a startup focused on reaching younger audiences.
Will Lewis, the ex-CEO and publisher of The Wall Street Journal, is set to become the next CEO of The Washington Post. The appointment was officially confirmed by The Post in a brief statement on Saturday evening following the initial report by The New York Times.
Mr. Lewis is scheduled to assume his new role on January 2. He expressed his excitement and humility, saying, “The Washington Post has a long-standing reputation for unwavering journalism over its 145-year history, and I’m honored to lead it as a media executive and former reporter.”
Jeff Bezos, the founder of Amazon and owner of The Post, reiterated his dedication to the publication, describing Mr. Lewis as an outstanding and determined industry leader.
In an email sent to The Post’s newsroom on Saturday evening, which was also shared with The Times, Mr. Bezos emphasized his admiration for Mr. Lewis’s love for journalism and his commitment to achieving financial success.
Mr. Lewis, aged 54, a former British journalist who previously served as the editor of The Daily Telegraph before transitioning into a news executive role, boasts over 15 years of leadership experience within major news organizations. He most recently co-founded The News Movement, a startup catering to young news consumers.
Mr. Bezos has chosen Mr. Lewis at a critical juncture for the news organization. The Washington Post is currently facing financial challenges, with an anticipated loss of $100 million this year, and has encountered difficulties in expanding its digital subscription base since the departure of President Donald J. Trump from office.
The newsroom is also gearing up to cover the 2024 presidential election, a crucial focus for a newspaper that places a high priority on political reporting. Given Mr. Trump’s involvement and history as a critic of both Mr. Bezos and The Post, his role in the upcoming election is expected to be prominent.
Fred Ryan, the former publisher and chief executive of The Washington Post, announced in June that he was stepping down after nearly a decade in the position. Under his leadership, the newspaper experienced a surge in digital subscriptions and an expansion of its newsroom. However, in recent years, subscriber growth has slowed, dropping to 2.5 million paid subscribers from around three million in 2020. The Post operated at a loss last year after years of profitability.
Towards the end of Mr. Ryan’s tenure, many Post executives became frustrated, perceiving a stagnant business culture within the newspaper. He also had disagreements with Sally Buzbee, the executive editor, over a personnel issue, and his departure was viewed as a victory for Ms. Buzbee within the newsroom.
Since Mr. Ryan’s departure, Patty Stonesifer, a member of Amazon’s board and a close associate of Mr. Bezos, has been overseeing the company. Ms. Stonesifer initially assured the newsroom that there would be no layoffs and that her interim role would last for six months to a year while a search for a permanent chief executive was underway. However, she later admitted her earlier statement about job cuts was “naïve” and disclosed in an email to the newsroom that projections for traffic, subscriptions, and advertising growth had been overly optimistic. As a result, The Post is set to reduce approximately 240 positions throughout the organization via a buyout program.
The selection of Mr. Lewis comes after an extensive recruitment process led by Ms. Stonesifer, who engaged the services of the recruiting firm Sucherman to assess potential candidates. In recent weeks, The Washington Post or Sucherman reached out to numerous prominent figures in the industry, including Josh Steiner, a board member of Bloomberg LP; Evan Smith, former CEO of The Texas Tribune; Nicholas Thompson, CEO of The Atlantic; Goli Sheikholeslami, CEO of Politico; and Craig Forman, former CEO of the McClatchy newspaper chain. Puck previously reported that Mr. Lewis was a leading contender for the role of CEO at The Washington Post.
ALSO READ : – China’s initial major blizzard this season, anticipates record snowfall: Key updates.
Formerly a reporter for The Financial Times, Mr. Lewis climbed the editorial ranks to become the editor in chief of the Telegraph Media Group, which owns The Daily Telegraph. In 2010, he joined News UK, a part of the media empire founded by Rupert Murdoch, where he was part of the executive team tasked with addressing a phone-hacking and police bribery scandal that resulted in the closure of Mr. Murdoch’s News of the World tabloid.
As the chief executive of Dow Jones, the parent company of The Wall Street Journal and Barron’s, from 2014, Mr. Lewis oversaw a period of digital subscription growth. By the end of his tenure in 2020, The Wall Street Journal had amassed more than two million digital subscribers, up from approximately 700,000 when he assumed the role.
During his time at The Wall Street Journal, Mr. Lewis was known for his personal approach to interacting with the newsroom. He often sent brief emails expressing support for journalists and their work.
The News Movement, the startup he has led since 2021, produces videos about current events on popular social media platforms like TikTok and YouTube, and has partnered with organizations including The Associated Press. The company has secured $15 million in funding from backers, including the British newspaper publisher National World, and recently acquired the political news startup The Recount.
Mr. Lewis was knighted this year by King Charles III for his “political and public service,” on the recommendation of Boris Johnson, the former British prime minister, whom he had informally advised. Mr. Lewis is also among the potential buyers of The Telegraph Group, his former employer, as he stated in a Bloomberg interview in September that he had secured financial backing for the endeavor.
“Exciting news! Nyreadtime is now on twitter Channels 🚀 Subscribe today by clicking the link and stay updated with the latest news insights!” Click here!