I liked the straightforwardness of most of it, but a couple of lines rubbed me the wrong way.
The lede was fine, and I appreciated the "bacon" joke. But then we get to ...
"Are you still reading? Good. Nice to know you have a decent attention span, Zippy."
This just sounds asshole-ish. I don't have an issue with the preceding list, but this is just condescending. (And my mom's nickname is Zippy, so it offends me personally because he's using that as an insult and making no pretense of it.)
"If you don't respond well to being challenged in the newsroom, this isn't the place for you. If you can handle constructive feedback and contribute your own opinions to making our stories better, you might be a good fit. Are you willing to grow as a journalist?"
Works great, I think. But then he follows up with: "If you are, send me your mind-blowing cover letter. If you don't think it's mind-blowing, at least make it sincere and original. If it's lame, I might just post it here so that you are mocked and scorned. (Actually, I'm checking with the legal department to see if I can do it; look out if I get the green light)"
I've worked for enough pompous employers, and that's how this comes off to me. I wouldn't want to work for someone who thinks this is funny.
Take out those two zingers and I think it's an excellent ad. Those two graphs don't add to it the description; they make the employer look like a bully.