April 16, 2024

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Dow Jones CEO William Lewis speaks in the course of the Wall Avenue Journal (WSJ) CEO Council on Might 14, 2019 in London, United Kingdom.

New York CNN –

The Washington Put up named information media veteran William Lewis as its new writer and CEO on Saturday at a crucial time for the newspaper because it grapples with monetary difficulties, a quickly altering media setting and an upcoming presidential election.

Lewis will assume the position on January 2, 2024, the Put up stated in an announcement.

“Main this daring media model means increasing my dedication to selling high quality journalism and upholding our democratic values, whereas rising the Put up’s enterprise and increasing its influence to the following technology and past,” Lewis stated within the assertion.

Lewis will take the helm of one of many nation’s most storied media firms at a time of change for American journalism generally and for The Washington Put up particularly, the place layoffs, declining readership and excessive bills have dampened morale.

Lewis, the founder, CEO and writer of Gen-Z-focused The Information Motion, is a former CEO of Dow Jones and writer of The Wall Avenue Journal.

Amazon founder Jeff Bezos purchased The Washington Put up in 2013, and the paper’s site visitors surged within the years that adopted, notably after former President Donald Trump took workplace.

However the prestigious newspaper within the nation’s capital has struggled to retain readership within the post-Trump period. Like a lot of the information business, The Washington Put up has confronted a reckoning as People’ studying habits have modified in recent times.

Interim government director Patty Stonesifer beforehand instructed workers that the paper had “overspend” underneath former CEO Fred Ryan.

She additionally revealed that the publication’s readership has plummeted since Trump left the White Home and that its digital readership has dropped a staggering 28% since 2021. Digital subscriptions had been down 15%, Stonesifer added.

Former writer and government director Fred Ryan introduced in June that he was stepping down after practically a decade on the helm of The Washington Put up.

Whereas he helped the paper win greater than a dozen Pulitzer Prizes and business recognition, he additionally angered a lot of the newsroom late final 12 months when he abruptly introduced layoffs.

“Ten years in the past, I selected the way forward for The Washington Put up, impressed by its bold and rigorous journalism,” Bezos stated in an announcement. “At present, I’m assured that the long run lies within the palms of Will, an distinctive, tenacious business government whose expertise in passionate, award-winning journalism makes him the correct chief on the proper time.”

CNN’s Oliver Darcy contributed reporting.