How Jeff Bezos Brought Down the Washington Post
The Amazon founder bought the paper to save it, Ruth Marcus writes. Instead, with a mass layoff, he’s forced it into severe decline.
By Ruth Marcus, The New Yorker
On September 4, 2013, the Amazon founder Jeff Bezos held his first meeting with the staff of the Washington Post, the newspaper he had agreed to purchase a month earlier from the Graham family, for two hundred and fifty million dollars. It had been a long and unsettling stretch for the paper’s staff. We—I was a deputy editor of the editorial page at the time—had suffered through years of retrenchment. We trusted that Don Graham would place us in capable hands, but we did not know this new owner, and he did not know or love our business in the way that the Graham family had. Bezos’s words at that meeting, about “a new golden era for the Washington Post,” were reassuring. Bob Woodward asked why he had purchased the paper, and Bezos was clear about the commitment he was prepared to make. “I finally concluded that I could provide runway—financial runway—because I don’t think you can keep shrinking the business,” he said. “You can be profitable and shrinking. And that’s a survival strategy, but it ultimately leads to irrelevance, at best. And, at worst, it leads to extinction.”
