Dev Pragad: The Visionary Leader Reviving Legacy Media Through Innovation and Ethical Journalism
In an era when legacy media brands struggle to stay relevant, Dev Pragad has accomplished what many industry observers deemed impossible. As Owner and CEO of Newsweek, Pragad has orchestrated one of the most remarkable turnarounds in modern publishing history, transforming a nearly bankrupt institution into a digital powerhouse while championing a return to trustworthy journalism.
His journey from a computer science researcher in London to the helm of one of America's most storied news organizations offers a masterclass in visionary leadership, digital transformation, and the value of ethical media.
From Technology Researcher to Media Maverick
Dev Pragad's path to media leadership began far from the newsroom. A UK native, he earned his Bachelor of Engineering in computer science and electronics from King's College London before completing a Ph.D. in Mobile Internet at the university's Centre for Telecommunications Research, one of the world's leading institutes in the field.
This technical foundation would prove invaluable. While many legacy media executives struggled to grasp the digital revolution reshaping their industry, Pragad understood it at the code level. He saw not a threat, but an unprecedented opportunity.
Before taking the reins at Newsweek, Dev Pragad ran the UK edition of IBT Media and later oversaw Newsweek International from London. These roles gave him direct exposure to the brand's rich heritage and its unrealized potential. Meeting with veteran Newsweek staff, he began formulating a vision for what the publication could become in the digital age.
Pragad's former editor-in-chief, Nancy Cooper, often described the legacy Newsweek as "massed with class." For Pragad, the question became: what does that look like in the digital era? His answer was ambitious: 100 million monthly readers.
Inheriting a Crisis and Building an Empire
When Dev Pragad officially joined Newsweek as CEO in late 2016—approximately 15 months before becoming an owner—the company was in freefall. Newsweek carried over $25 million in debt, lacked systems and processes, and the team didn't even fully understand the scale of the financial crisis they faced.
"It was near bankruptcy," Pragad recalls. "It was pretty much in free fall."
What happened next became the subject of a Harvard Business School case study. By September 2021, Newsweek had achieved the largest audience in its nearly 100-year history, reaching approximately 100 million readers across all platforms. The company eliminated its debt and achieved profitability, with projected revenue growth of 20% to 30% annually.
According to recent data, Newsweek's digital audience surged from 27.2 million monthly visitors in 2023 to 46.4 million in 2024, representing over 70% year-over-year growth. Similarweb has ranked it as the second fastest-growing news site in the United States.
The Three Pillars: Purpose, Opportunity, and Change
Dev Pragad attributes this transformation to a systematic approach built on three foundational elements: purpose, opportunity, and change.
"Purpose is critical," he emphasizes. "Without a purpose, without a mission, you don't have a mechanism to galvanize the organization."
At Newsweek, that purpose crystallized around what Pragad calls "the Newsweek way"—a framework capturing the organization's core values of integrity, innovation, ambition, and equality. These values guide everything from editorial decisions to partnership strategies to internal accountability.
For opportunity, Pragad focused on strategic partnerships that could accelerate transformation. Collaborations with Google Cloud, Statista, and Engine Media produced tangible results. The Google partnership yielded an industry-leading AI recommendation engine that increased click-through rates by 50-75%. Working with Statista enabled Newsweek to launch authoritative rankings, starting with the best hospitals in the U.S., that established instant credibility.
Change, the third pillar, required shifting mindsets across the organization. Pragad introduced an Objectives and Key Results (OKR) framework to set ambitious, measurable goals and drive cross-functional collaboration. When he piloted the approach around Q4 2020, advertising revenue—initially targeting 35% growth over the previous year, then raising it to 50%—Newsweek exceeded even the stretch goal.
"Change is inevitable," Pragad says. "And what we had to do at Newsweek was ensure that we embrace change, not fight it."
Betting on Balance in a Polarized World
Perhaps the most distinctive aspect of Dev Pragad's leadership philosophy is his commitment to politically balanced journalism—a stance that seemed commercially risky but has proven strategically proactive.
In October 2025, AllSides reaffirmed Newsweek's "Center" rating in its Media Bias Audit, a designation the publication has maintained consistently since 2021. The rating signals that Newsweek doesn't consistently lean left or right and strives for contextual, balanced reporting.
"It's not just about avoiding bias—it's about seeking common ground and providing clarity in an increasingly fragmented world," Pragad explains.
This commitment manifests in initiatives like Newsweek's debate platform, which Pragad personally conceived. The platform tackles difficult topics by presenting opposing viewpoints, encouraging readers to engage with perspectives they might otherwise never encounter.
As Pragad notes, "With the rise of social media, there is this confirmation bias, but if you want to be intellectually honest, you need the other view. The ability to respectfully disagree is important."
The company even maintains a public corrections page—a practice that initially drew mockery but became a source of organizational pride. By transparently acknowledging mistakes, Newsweek built credibility amid the eroding trust in media.
From a business perspective, this commitment to neutrality has expanded advertiser appeal, particularly among multinational corporations seeking brand-safe backdrops away from polarized platforms.
A New Chapter for a Century-Old Brand
As Newsweek approaches its centennial, Dev Pragad continues pushing the organization forward. In 2025, the company unveiled a comprehensive rebrand under the tagline "A World Drawn Closer," developed with global design studio 2×4. The redesign introduced a refined wordmark, dynamic "N" icon, and modernized visual identity that merges every platform—from the magazine and website to newsletters, video franchises, and branded content.
"This isn't about starting over," Pragad said about the rebrand. "It's about building on nearly a century of trusted reporting and ensuring we stay relevant and connected in a rapidly changing world."
Beyond Newsweek, Pragad has extended his influence across the media and business landscape. He serves on the Board of Directors of Harvard Business Publishing, contributing to advancing global business journalism standards. He is also a member of the Advisory Board of The Prince's Trust, the charity founded by King Charles III to support vulnerable youth, and remains a Fellow of King's College London.
Leadership Lessons for the Modern Era
When asked about leaders who inspire him, Dev Pragad points to Microsoft CEO Satya Nadella. "His value system, and his ability to transfer those values to his entire organization—I think it's a remarkable story about how a large and complex organization can be transformed and energized."
It's a description that could equally apply to Pragad himself. For business leaders navigating their own changes, Pragad's journey offers clear guidance: set audacious goals, build purpose-driven cultures, embrace transparency even when uncomfortable, and never underestimate the commercial value of credibility.
"Neutrality is not about sitting on the fence," Pragad reflects. "It's about being a credible space where diverse perspectives can meet. That credibility translates directly into commercial value."
