Rev. Moon has spent $2 billion dollars on the Washington Times and the newspaper has never made money. Every year it’s in the red, reports The Columbia Journalism Review.
The newspaper is something of a sinkhole if you look at it purely from the standpoint of profit and loss.
The Times also runs a distant second for circulation within the D.C. area, pulling about one-eighth the rate of the Washington Post. Likewise its percentage of advertising is almost one-half the industry average.
Sounds pretty bad doesn’t it?
This all doesn’t seem to bother Rev. Moon who apparently bought the paper for status and ego-fulfillment within the beltway and to garner political influence.
However, will the Moon family continue to support this financial loser after the old man is gone?
Sun Myung Moon, the founder of the Unification Church and its reigning “messiah,” may be nearing the end of his life. He is an now an octogenarian and some say a bit senile.
After his death the Moon heirs may decide to cut their losses and only keep businesses that make money. This may mean liquidation for the Times.
The staff at the Washington Times must hope that Father Moon will follow in the footsteps of South Carolina Senator Strom Thurmond, who recently retired at a 100.
But perhaps they should keep their resumes ready.
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