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Washington Post publisher and CEO Fred Ryan announced on Monday that he will step down from the helm of the newspaper in August.

Ryan, who oversaw the Washington Post for the last nine years soon after Amazon founder Jeff Bezos’ acquisition of it, will instead lead the newly formed nonpartisan Center on Public Civility at the Ronald Reagan Presidential Foundation.

“Jeff is personally providing support for the planning and design phase of this new initiative and supports my decision to make this move,” Ryan told Washington Post staffers in a memo on Monday.

Ryan said that under his leadership, the Post transitioned from a local print newspaper to a global digital publication, and won 13 Pulitzer Prize awards. In a statement, the Washington Post said that it saw multiple years of profitability and a dramatic jump in digital subscriptions under Ryan.

But the Post has not been immune to broader industry struggles. The newspaper has laid off newsroom and business employees in recent years.

A wave of job cuts has hit the media industry recently, in both digital and traditional newsrooms. The industry has also been grappling with the rise of artificial intelligence, and newsrooms, including the Washington Post, have taken action.

In his memo, Ryan said his career transition comes as he has “a deep and growing concern about the decline in civility and respectful dialogue in our political process, on social media platforms and more broadly across our society.”

“Many of us can recall an era when people could disagree without being disagreeable. Political leaders on opposite sides of the aisle could find common ground for the good of the country,” he said in his memo on Monday, explaining his next move. “Today, the decline in civility has become a toxic and corrosive force that threatens our social interactions and weakens the underpinnings of our democracy. I feel a strong sense of urgency about this issue.”

While Ryan will remain as publisher until August, Bezos said Monday in another memo that his “longtime friend and colleague” Patty Stonesifer will join as interim CEO. Stonesifer, an Amazon board member who was the founding CEO of the Bill & Melinda Gates Foundation following executive roles at Microsoft, will lead the search for a new CEO.

Read Fred Ryan’s memo to employees here:

Subject: Message for Washington Post Colleagues

Dear Washington Post Colleagues,

Nine years ago, I was honored to be selected by Jeff Bezos to be Publisher and CEO of The Washington Post. Working with Jeff and the exceptional team at The Post has been an incredible experience and enormously gratifying.

Together, we have accomplished one of the most extraordinary transformations in modern media history. We have evolved from a primarily local print newspaper to become a global digital publication. We’ve added significantly to the tremendous team of journalists, engineers and business experts and have taken The Post through multiple years of profitability. We’ve launched an innovative new technology platform that is powering hundreds of other news sites around the world.

During this time, we have won multiple awards for exceptional journalism, including 13 Pulitzer Prizes, and we’ve twice been named “The World’s Most Innovative Media Company” by Fast Company.

As I have shared in conversations with many of you, I have a deep and growing concern about the decline in civility and respectful dialogue in our political process, on social media platforms and more broadly across our society. Many of us can recall an era when people could disagree without being disagreeable. Political leaders on opposite sides of the aisle could find common ground for the good of the country. Today, the decline in civility has become a toxic and corrosive force that threatens our social interactions and weakens the underpinnings of our democracy. I feel a strong sense of urgency about this issue.

As a result, I have decided to leave my position at The Post to lead the nonpartisan Center on Public Civility that is being launched by the Ronald Reagan Presidential Foundation and Institute. Jeff is personally providing support for the planning and design phase of this new initiative and supports my decision to make this move.

In order to provide advice and counsel during this transition, I have agreed to remain as Publisher of The Washington Post until August 1. Jeff will announce a new interim CEO later today. It is an exceptional individual that I hold in the highest regard.

In the weeks and months ahead, I look forward to spending time with all of my friends and colleagues across The Post to convey my deep appreciation for your many impressive contributions to our success. I am committed to providing my full support as the interim CEO charts the course of this transition and the bright future ahead for The Post.

With my deepest appreciation to each of you,

Fred.

Read Jeff Bezos’ memo here:

Subject: Message for The Washington Post Team

Dear Washington Post Team,

I want to express my deepest gratitude and appreciation to Fred for his dedicated service to The Washington Post as our Publisher and CEO.

Fred has led The Post through a period of innovation, journalistic excellence, and growth. His focus on the intersection of journalism and technology has been of great benefit to readers and has laid the foundation for future growth.

Fred is widely respected for championing press freedom and the protection of journalists. In addition to launching the Press Freedom Partnership, he’s been a relentless force in his devotion to secure the release of journalists who have been wrongly detained and an unwavering voice for accountability from those who do them harm.

I’m deeply grateful to Fred for his leadership and for the friendship that we’ve developed over the years. I look forward to continuing to enjoy both as he works to advance civility in our nation’s discourse.

To ensure we don’t skip a beat, Fred has agreed to remain as Publisher for the next two months, and my longtime friend and colleague Patty Stonesifer will join The Post today as interim CEO. She’ll head up our leadership team, steer us through this important transition, and help me identify the Publisher/CEO who will take the Post forward into the next decade. Patty has built and led great organizations. You’ll soon see for yourself why I admire her. Her skills, judgement, and character all stand out. She also understands the importance of our mission and has a deep respect for the work we do here.

Please join me in thanking Fred as he prepares for his new venture and in welcoming Patty as she assumes the interim CEO role.

Many thanks,

Jeff

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Social media users report Netflix outage during ‘Stranger Things’ premiere

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Social media users report Netflix outage during 'Stranger Things' premiere

A Netflix logo is on display at the Lucca Comics & Games 2025 event, one of Europe’s largest pop culture conventions, as stars and creators of “Stranger Things” series launch Season 5, in Lucca, Italy, October 31, 2025.

Claudia Greco | Reuters

Users on social media posted that they were experiencing issues with Netflix’s service on Wednesday, the night of the widely anticipated “Stranger Things” fifth-season premiere.

DownDetector.com on Wednesday said “User reports indicate problems at Netflix.”

“Netflix fix your app bro,” one X user posted.

Users began reporting issues with Netflix around 7:40 p.m. Eastern, according to DownDetector.com. Netflix had said the latest season of “Stranger Things” would go live Wednesday at 8 p.m. Eastern.

Netflix said it would release the first four episodes of the “Stranger Things” fifth season on Wednesday. The streaming service has said it will release another three episodes on Dec. 25 and the final episode of the show on Dec. 31.

The company did not respond to a request for comment.

This is a breaking story. Check back for updates.

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CNBC Daily Open: An early Thanksgiving celebration in U.S. markets

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CNBC Daily Open: An early Thanksgiving celebration in U.S. markets

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Nov. 26, 2025.

Brendan McDermid | Reuters

Thanksgiving in the U.S. takes place on Thursday stateside, but the feasting might have begun a day early for investors. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all recorded a fourth straight day of gains.

Shares of Oracle, which have been hobbling along in November after wiping out its one-day spike in September, advanced roughly 4% after Deutsche Bank said that its recent price pullback “presents an attractive entry point for investors when looking at Oracle’s business in totality.” Other technology and AI-related stocks, such as Nvidia and Microsoft, rose in sympathy.

“Thanksgiving week is generally a strong week in the markets. Everyone’s feeling good,” said Eric Diton, president and managing director at The Wealth Alliance.

It’s what happens after Thanksgiving that might cause some pause.

The futures market is now pricing in a roughly 85% chance the U.S. Federal Reserve will cut interest rates by a quarter percentage point in December. When expectations are too high — and not met — disappointment will be all the more painful.

“If the Fed disappoints, you could have a sell-off,” Diton said — but added, “I don’t think they will.”

And if White House National Economic Council Director Kevin Hassett does assume the role of Fed chair when Jerome Powell vacates his seat, rates could trend even lower in the future, wrote Bank of America economist Aditya Bhave.

Looser monetary policy tends to provide more support for stocks — that notion seems to be behind optimistic targets for the S&P 500 by the end of 2026. So far, the numbers that have been floated are 7,400 from CFRA Chief Investment Strategist Sam Stovall, and as high as 8,000 from JPMorgan.

Investors indeed have much to be thankful for in 2025 — and possibly the next year as well.

What you need to know today

Fourth straight day of gains for U.S. stocks. Major indexes closed higher on Wednesday, lifted by technology firms such as Oracle and Nvidia. Europe’s Stoxx 600 added 1.09%. U.K. banks climbed following the release of the country’s budget.

Apple’s smartphone shipments to overtake Samsung. The company will ship around 243 million iPhones this year, higher than the 235 million smartphones from Samsung, Counterpoint Research wrote. It’d be the first time in 14 years Apple will outstrip its rival.

UK unveils its Autumn Budget. Some measures Finance Minister Rachel Reeves announced on Wednesday include tax breaks for startup employees and investors, and frozen income tax thresholds — which have been described as “stealth tax” for workers.

AI can replace 11.7% of U.S. workforce, MIT says. That’s equivalent to $1.2 trillion in wages across finance, health care and professional services. The study, which was released Wednesday by the university, created a simulation of 151 million U.S. workers.

[PRO] The S&P 500 to hit 8,000 next year? A JPMorgan strategist thinks the broad-based index will end 2026 at 7,500, roughly 10% higher than Wednesday’s close. But if certain events happen, he thinks the S&P 500 could touch even higher levels.

And finally…

Jiang Zheyuan, chairman of Noetix Robotics, with a robotic android at the company’s offices in Beijing, China, on Friday, June 27, 2025.

Na Bian | Bloomberg | Getty Images  

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Apple and Broadcom shares keep hitting records. Why each have more room to run

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Apple and Broadcom shares keep hitting records. Why each have more room to run

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