Some said it could never be done. Ever. But it’s done. The Washington Times announced Wednesday it achieved in September the first profitable month in its 33-year history, successfully transforming a traditional money-losing print publication into a leaner multimedia company with diverse revenue streams and a growing national audience.
“The hard-working employees and patient owners of The Washington Times have waited for this day for a long time,” President and CEO Larry Beasley said after surprising his staff Wednesday afternoon with an impromptu champagne celebration in the company ballroom.
The media landscape has been particularly unforgiving in recent years. Cutbacks, job losses and “newspaper death watches” have been the norm since 2009 as the Internet proved to be a profound game-changer in the news business. The Times went into reinvention mode, but never abandoned its original calling as a credible news source with a conservative backbone.