In just one day earlier this month, owner Jeff Bezos and then-publisher and CEO Will Lewis took a sledgehammer to one of the most respected and legendary news outlets in history by laying off more than 300 journalists, accounting for, according to some reports, more than 40% of the staff. The sports and foreign desk were essentially gutted. So was the book department, photo desk and much of the metro department.
News that the Washington Post had laid off hundreds of workers and scrapped several sections of the storied paper altogether stunned the journalism community last week. The Post cut roughly one-third of its staff, reduced local coverage, and completely destroyed its sports and international departments. The paper is owned by Jeff Bezos. The Amazon founder, who has a staggering net worth of approximately $250 billion, bought the Post for $250 million in 2013.
Alden Global Capital expressed surprise at the rejection of its $16.50 offer for The Dallas Morning News, particularly since it wasn’t even considered for discussion.