There is quite a bit of difference between not making a profit and consistently losing around $100m a year with apparently no path to at least revenue neutrality.
Edit: The consideration being that perhaps billionaire toys need not be profitable per se, but are purchased for different reasons. Twitter is another example here.
In that light an arbitrary but vaguely plausible reason to fire anyone who insists on doing actual journalism and not billionaire propaganda is a useful tool.
It's not like he will make it profitable anyway.