Washington Post reportedly facing financial struggles, 'on a pace to lose money this year'

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The Washington Post is reportedly "on pace to lose money this year" after years of profitability during the Trump era. 

Following the constant news cycle during the Trump presidency, business at the "Democracy Dies in Darkness" paper's business has stalled so much so that their "5 by 25" initiative to reach five million digital subscribers by 2025 may be out of reach, sources told The New York Times.  "The organization is on track to lose money in 2022, after years of profitability, according to two people with knowledge of the company’s finances," the Times wrote Tuesday. "The Post now has fewer than the three million paying digital subscribers it had hailed internally near the end of 2020, according to several people at the organization. Digital ad revenue generated by The Post fell to roughly $70 million during the first half of the year, about 15 percent lower than in the first half of 2021, according to an internal financial document reviewed by The New York Times." Sources allege to the Times that Washington Post CEO and publisher Fred Ryan, who was hired by the paper's owner Jeff Bezos, "floated… the possibility of cutting 100 positions" in the newsroom, potentially in the form of "hiring freezes."  WASHINGTON POST'S DAVE WEIGEL LEAVING PAPER THIS YEAR FOR DIGITAL MEDIA START-UP SEMAFOR

WASHINGTON, DC - APRIL 15 : Washington Post publisher Fred Ryan speaks during a 2019 Pulitzer Prize announcement ceremony in the newsroom at the Washington Post office on Monday, April 15, 2019 in Washington, DC.  (Jabin Botsford/The Washington Post via Getty Images)

The Post told the Times that the paper not only is not reducing head count but may expand the newsroom and "exploring positions that should be repurposed to serve a larger, national and global audience." According to the Times, the spokesperson "said the document showing ad revenue declines depicted an incomplete picture of The Post’s business, but she declined to detail how." THE WASHINGTON POST'S WEEK FROM HELL The Times alleged the financial downturn has fueled "frustration internally" with top executives "concerned" that Ryan "hasn’t moved decisively enough to expand coverage" and that under his leadership, marketing efforts were being halted. "Mr. Ryan’s focus on productivity and office attendance in the newsroom has also been a source of tension. He has expressed his belief to members of his leadership team that there were numerous low performers in the newsroom who needed to be managed out," the Times wrote. "He has monitored how many staff members come into the office, and has weighed new measures to compel people to return to work, including threats of firings, several people at The Post said."

Washington Post Publisher and CEO Fred Ryan speaks during a book discussion with former Iranian prisoner Jason Rezaian at the Washington Post headquarters, on January 23, 2019 in Washington, DC.  (Mark Wilson/Getty Images)

Ryan has reportedly "expressed annoyance" with Post leaders about the apparent lack of productivity, noticing how fewer meetings took place on Fridays as one measurement. The publisher "has also grown increasingly frustrated" that Post staffers have not been working from the office at least three days per week, a policy rolled out by the paper earlier this year following the pandemic.  "In recent weeks, Mr. Ryan asked for disciplinary letters to be drafted and sent to employees who had not made any appearance in the office this year, according to three people with knowledge of the discussions," the Times wrote. "He ultimately decided that the letters should not be sent, and that the people should be called instead. The Post spokeswoman said Mr. Ryan welcomed employee input on the return-to-office policy." WASHINGTON POST BOSS DENOUNCES ‘ATTACKING COLLEAGUES’ IN MEMO TO STAFF AS WARFARE ON TWITTER ENSUES Some employees, according to the Times, have pushed back against Ryan, stressing about the "grave concerns" about the return-to-work policy in a letter sent to him, writing "Such decisions are extremely personal and consequential… and we urge management to allow employees to make these decisions without fear of punishment from their employer."

A Washington Post piece, "DeSantis spokeswoman Christina Pushaw makes sure reporters feel the burn," focuses on Florida Gov. Ron DeSantis' press secretary, Christina Pushaw.  (ERIC BARADAT/AFP via Getty Images)

Executives at The Post have mulled over buying other news organizations including "The Associated Press, The Economist and The Guardian," sources told The Times, and that Ryan has prioritized the paper’s ability to "covering new areas rather than acquiring rivals." CLICK HERE TO GET THE FOX NEWS APP The report also claims that Bezos has been more hands-off in recent years, going from having a "regular presence" at the Post before the pandemic to rolling back from what used to be his ever-other-week Zoom calls, which became "less frequent" but that he's "still engaged, however, weighing in during budgeting season and participating in calls." The Post spokesperson told the Times it is "absolutely false" to suggest Bezos is less interested in the paper. 

A spokesperson for the Post declined to further comment. 

Joseph A. Wulfsohn is a media reporter for Fox News Digital. Story tips can be sent to joseph.wulfsohn@fox.com and on Twitter: @JosephWulfsohn.

#Washington #Post #reportedly #facing #financial #struggles #pace #lose #money #year https://www.globalcourant.com/washington-post-reportedly-facing-financial-struggles-on-a-pace-to-lose-money-this-year/?feed_id=18079&_unique_id=630ec4338b3b1

Relief efforts pick up pace after floods submerge third of Pakistan

Massive floods triggered by heavy monsoon rains have swamped a third of the country, killing more than 1,100 people and affecting tens of millions more.

More than two million people had been displaced by the floods. (AFP)

Makeshift camps have sprung up all over Pakistan – in schools, along motorways and at military bases – to give shelter to millions of displaced flood victims. Pakistan needs more than $10 billion to repair and rebuild infrastructure, Planning Minister Ahsan Iqbal said on Tuesday. "Massive damage has been caused to infrastructure – especially in the areas of telecommunications, roads, agriculture and livelihoods," he told AFP news agency. Floods have swamped a third of the country, killing more than 1,100 people and affecting tens of millions more. In the northwestern town of Nowshera, a technical college was turned into a shelter for up to 2,500 flood victims, who sweltered in the summer heat with sporadic food aid and little access to water for bathing. "We have been only eating rice for the past three days," 60-year-old Malang Jan told AFP. "I never thought that one day we will have to live like this. We have lost our heaven and are now forced to live a miserable life." Jan's family were rescued by boat when his home was submerged in the floods. READ MORE: Flood victims share tales of horror as rains wreak havoc across Pakistan

A third of Pakistan is under water as a result of flooding caused by record monsoon rains. (AFP)

'A situation of panic' The college gardens are lined with tents – the classrooms are filled with the families who arrived first and grabbed the chance for privacy. Others rest shoulder-to-shoulder in corridors with their meagre bundles of belongings. Goats and chickens salvaged from the rising water graze in the campus courtyard. The camp of 2,500 is managed by various charities, political parties and administrative officials overwhelmed by the scale of the disaster. Volunteers hand out tents, mattresses, water, daal and naan. "It's a situation of panic," said Mushfiq ur Rehman, a district court official who stepped in to oversee food delivery for the local administration. "There is enough food, but people are getting desperate because they don't trust if they will get a meal again or not." [embed]https://www.youtube.com/watch?v=B-Fn9ynxPfY[/embed] 'We're humiliated' It is particularly difficult for women in this deeply conservative region of the country, where the all-covering burqa is commonly worn, and women rarely mix with men who are not relatives. "We are Pashtun people; we don't come out of our homes often, but now we are forced to come out," said Yasmin Shah, 56, who is sheltered in a classroom with her family. Young women with burqas pulled up over their heads watch from upper floors. "I cannot come out of this classroom unless I have to," added another, looking after a blind uncle. Older women take their place in queues to ensure they get a share of food handouts. The heat is worsened when the few working fans stop working because of power cuts. There are no showers and only a few toilets available for the displaced.

The death toll from monsoon flooding in Pakistan since June has crossed 1,100. (AFP)

"Our self respect is at stake... I stink but there is no place to take a shower," said Fazal e Malik, who is staying with seven family members in a tent. "Our women are also facing problems and they too feel humiliated." When food aid arrives at the college, desperate families mob the trucks, and are sometimes pushed back by police armed with long sticks. "People send relief goods here but the distribution is not well organised at all," Yasmin said. "There are routine scuffles and people have to fight to get some food. In the end, some people have a bigger share and others have nothing."

Experts fear a widespread migration within Pakistan due to the destruction of agricultural lands and businesses by the latest floods. (AFP)

The largest camp in the town was set up at the Pakistan Air Force academy centre, sheltering a further 3,000 people in the accommodation usually reserved for training staff. Nearby, armed members of a local political party have stepped in to protect abandoned homes, using rowing boats to navigate the flooded streets and watch for looters. For some fleeing the deluge across the country, the only dry areas are elevated roads and railroad tracks, alongside which tens of thousands of poor rural folk have taken shelter with their livestock. READ MORE: Türkiye sends two planes carrying aid for Pakistan flood victims Source: AFP

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