Former Dow Jones CEO Appointed as New Publisher of US Media Outlet WP Amid Staff Reductions

Expected Deficit of Approximately 130 Billion Won This Year

William Lewis, former CEO of Dow Jones, has been appointed as the new Chief Executive Officer (CEO) and publisher of the Washington Post (WP), a leading American daily newspaper.

According to the Wall Street Journal (WSJ) on the 4th (local time), WP announced that Lewis will assume his new role as publisher on January 2nd next year.

William Lewis, former CEO of Dow Jones, appointed as the new Chief Executive Officer (CEO) and Publisher of the American daily newspaper The Washington Post (WP).
[Photo by Wikipedia]

The new CEO's challenge is to revive the WP, which is currently in crisis. WP is expected to record a loss of about $100 million (approximately 131.2 billion KRW) this year due to a decline in subscribers and a downturn in the online advertising market. Patty Stonesifer, acting CEO of WP, sent an email to employees last month announcing plans to reduce the workforce by about 240 people. WP has a total of around 2,600 employees, of which about 1,000 work in the newsroom, the news division.

Lewis, a former journalist, served not only as CEO of Dow Jones but also as publisher of the Wall Street Journal (WSJ) from 2014 to 2020. During his tenure at WSJ, Lewis increased online subscribers to 2 million, three times the previous number.

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