Time for Bezos to Sell the Washington Post?

When I first encountered Jeff Bezos, the visionary behind Amazon, he was hailed by the New York Times Magazine as a “political genius.” Back in 1999, at just 35, he was named Person of the Year by Time magazine, despite skepticism about the viability of online retail.

Fast forward almost 15 years. Bezos, now among the wealthiest individuals globally, purchased the Washington Post for $250 million from the Graham family. And honestly, it might be time for him to consider selling it.

The landscape for journalism is drastically different now, and so is Bezos, who has laid off a third of the newspaper’s workforce.

Once, Bezos claimed that a newspaper’s responsibility is to its readers, not to its owners. Still, he has signed a federal contract with Blue Origin and seems to be working on rebuilding his once-tense relationship with President Trump—Amazon even contributed $1 million to Trump’s inauguration.

Management, as most can agree, has made quite a few errors along the way. I believe it’s fair to say that Bezos has diminished what was once a great American newspaper.

My personal connection to the Post runs deep. I spent nearly three decades there, on Bob Woodward’s investigative team, serving as a Justice Department reporter, and later, as a media reporter and columnist.

Back in the ’80s and ’90s, the Post had a powerhouse team, delivering compelling stories across various domains—from politics to sports—even without the resources of the New York Times. And we had a vibrant style section filled with talented writers.

This was the paper that played a crucial role in the Watergate scandal, famously ousting President Nixon and launching careers in journalism. Despite some hiccups, like the Janet Cooke scandal, the Post’s legacy has been immortalized in films and inspired many young journalists.

Recently, Bezos laid off 300 journalists, further reducing the Post to a shadow of its former self. Among the departed were notable staffers like Lizzie Johnson, who shared her devastation after returning from Ukraine, alongside long-time workers like Marty Weil and Sarah Ellison, who contributed significantly to the paper.

Bezos, it seems, is indifferent. I’m led to think he might be exhausted by the wealth that once promised him credibility. His focus appears to be more on his space endeavors than saving the Post.

I’m not suggesting Bezos should bankroll the paper indefinitely just because of his enormous wealth. The Post incurred a $100 million loss last year, and he’s right to seek a path to financial stability. Yet, the criticism has been relentless.

Ashley Parker of The Atlantic likened the situation to a murder. Meanwhile, Charlie Sykes had a headline that read, “Braveless billionaire gobbles up post.” Marty Barron, a former editor at the Boston Globe, remarked on the damage Bezos’ attempts to align with Trump have caused, suggesting it might be a case of self-inflicted brand destruction.

Some observers believe Bezos bought the Post seeking dignity and class that wealth alone couldn’t bring. Now, the landscape feels different—he may not be perceived as significant.

Sure, many newspapers are grappling with declining business models as advertising has shifted online. Unfortunately, over a quarter of American newspapers have shuttered in the last 20 years. I remember when the Washington Star, where I once worked, closed its doors in ’81 due to dwindling circulation.

However, the Post exemplifies a failure to adapt to the digital age, a reality that Katharine Graham was wary of addressing.

During Bezos’s tenure, price cuts have meant asking readers to pay for continually dwindling services, particularly as prominent staff left for other opportunities.

Initially, he took a hands-off approach that seemed to resonate with the newsroom ethos. Yet, in 2024, everything shifted. When the editorial team sought to endorse Kamala Harris, Bezos intervened, leading to substantial backlash, including over 250,000 subscription cancellations.

Subsequent to that, he mandated that the editorial page focus on “individual freedom” and “free markets,” sidelining dissenting views. This move prompted the resignation of David Shipley, a two-time Pulitzer Prize winner, and the departure of other contributors.

While mingling with the Trumps at Mar-a-Lago and enjoying a high-profile lifestyle, Bezos seems a world away from the essence of the newspaper. His personal life has, at times, drawn media scrutiny, making headlines for stories that overshadow his professional endeavors.

It’s quite striking that Bezos’s net worth has soared by $224 billion since he acquired the Post. So, why hang onto a troubled asset? Perhaps it’s time for him to consider selling it to someone who might rejuvenate the Washington Post. Honestly, it may already be too late.

After making cuts to the Post’s sports section, CEO Will Lewis, while disregarding calls to explain employee layoffs, appears uninterested in the reaction of those affected.

Back in the day, there would have been extensive coverage about something like this in the Post, but those times feel like a distant memory.