The Washington Times reports first profitable month
WASHINGTON (AP) — The Washington Times reports that for the first time in its 33-year history it has had a profitable month.
The paper reported (http://bit.ly/1Lwcl7Q ) the milestone Wednesday. The paper said in a November 2014 article that it was on track to reach profitability in 2015 as a result of revenue growth, expense reductions and restructuring. The paper said that since its inception, it has accumulated losses exceeding $1 billion. The newspaper says it now serves more than 10 million readers monthly online and in print.
The paper was founded in 1982 by the Rev. Sun Myung Moon, founder of the Unification Church. A media group associated with the church, News World Communications, owned the paper until 2010. It is now owned by Operations Holdings Inc., a company connected to the Unification Church’s founders.