Turnaround! Washington Times poised to post first profit in 32-year history
Revenue growth, expense reductions, restructuring cut losses, change media company’s course
Achieving success in a particularly unforgiving marketplace, The Washington Times is on course to reach profitability in 2015 for the first time in its 32-year history, President and Chief Executive Officer Larry Beasley announced Friday.
Mr. Beasley said the media company had eliminated nearly $25 million in annual losses over the last two years through a combination of revenue growth, expense reductions and restructuring.
“I don’t think for a minute that we’re done changing. But we’ve changed with the industry, and the marketplace has guided us,” Mr. Beasley said. “We don’t want to send the message that we’re there yet. But profitability is in sight.”