The Washington Post WPO -0.89% will replace Executive Editor Marcus Brauchli with Boston Globe editor Marty Baron at the end of the year, as the paper endeavors to deal with continuing declines in ad revenue.
Mr. Brauchli is stepping down after four years in the job, to become a vice president of Washington Post Co. In his tenure overseeing the Post, newspapers generally have been devastated by sharp declines in ad revenue.
Over the past year or so, most major newspapers have adopted "paywalls" that limit nonsubscribers' access to their websites. The Post hasn't done so, and has had to make up for falling ad revenues largely by cutting costs. Mr. Brauchli cut newsroom costs by about 25% to 30% during his tenure, according to a person familiar with the matter.
In the first nine months of this year, for instance, the Post's print ad revenue fell 14%. Thanks to growth in online ad revenue, the overall decline in the Post Co's newspaper publishing division's revenue was 7% (the division also includes online outlet Slate). The operating loss for the division rose sharply, despite a slight dip in operating expenses.
In his new role Mr. Brauchli, who was managing editor of The Wall Street Journal before joining the Post, will work with Post chairman Don Graham to sniff out new media opportunities.
"It made sense to make a change at this time," Mr. Brauchli said in a brief telephone conversation. "Don had an interesting job he wanted done."
In an interview Post publisher Katharine Weymouth played down reports of tensions between herself and Mr. Brauchli.
Source: Wall Street Journal | KEACH HAGEY