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Dow Jones CEO William Lewis speaks during the Wall Street Journal (WSJ) CEO Council on May 14, 2019 in London, United Kingdom.
New York CNN –
The Washington Post named news media veteran William Lewis as its new publisher and CEO on Saturday at a critical time for the newspaper as it grapples with financial difficulties, a rapidly changing media environment and an upcoming presidential election.
Lewis will assume the role on January 2, 2024, the Post said in a statement.
“Leading this bold media brand means expanding my commitment to promoting quality journalism and upholding our democratic values, while growing the Post’s business and extending its impact to the next generation and beyond,” Lewis said in the statement.
Lewis will take the helm of one of the country’s most storied media companies at a time of change for American journalism in general and for The Washington Post in particular, where layoffs, declining readership and high expenses have dampened morale.
Lewis, the founder, CEO and publisher of Gen-Z-focused The News Movement, is a former CEO of Dow Jones and publisher of The Wall Street Journal.
Amazon founder Jeff Bezos bought The Washington Post in 2013, and the paper’s traffic surged in the years that followed, particularly after former President Donald Trump took office.
But the prestigious newspaper in the nation’s capital has struggled to retain readership in the post-Trump era. Like much of the news industry, The Washington Post has faced a reckoning as Americans’ reading habits have changed in recent years.
Interim executive director Patty Stonesifer previously told employees that the paper had “overspend” under former CEO Fred Ryan.
She also revealed that the publication’s readership has plummeted since Trump left the White House and that its digital readership has dropped a staggering 28% since 2021. Digital subscriptions were down 15%, Stonesifer added.
Former publisher and executive director Fred Ryan announced in June that he was stepping down after nearly a decade at the helm of The Washington Post.
While he helped the paper win more than a dozen Pulitzer Prizes and industry recognition, he also angered much of the newsroom late last year when he abruptly announced layoffs.
“Ten years ago, I chose the future of The Washington Post, inspired by its ambitious and rigorous journalism,” Bezos said in a statement. “Today, I am confident that the future lies in the hands of Will, an exceptional, tenacious industry executive whose experience in passionate, award-winning journalism makes him the right leader at the right time.”
CNN’s Oliver Darcy contributed reporting.