Newspaper actually makes money

All it took was 33 years and more than $1 billion in losses!

Washington Times reaches profitability after 33 years, $1 billion in losses

 

Well, once Moddy and his seven-figure salary came off the books, I guess they had a chance.

 

That link is to The Washington Times itself, so I'd want to see the books. Also, I didn't see any references to all the debt obligations being paid. It's hard to be truly profitable when one still owes one's soul to the company store -- or the bank.

 

The CEO glibly joked about how "the owners can’t wait for us to pay them back."

Yeah. I'll bet.

 

Congrats on making a profit, which is a feat the vast majority of newspapers managed to do during the past 30 years.

 

A Gannett paper would announce this, followed by, "Thanks to this success, we'll only have to lay off 5 percent of our staff instead of 10 percent. Good job, everyone! Everything is indeed awesome!"

 

In point of fact, for many newspapers - even now - the issue is not profitability but rather profit margin.

 

Once again, are these papers servicing debt?

It's all well and good if you have $180 million in revenue and $165 million in expenses. But if those expenses don't include the debt service on your $1.2 billion loan, you're still in a world of hurt.