The Washington Times announced Monday that it has fired three top executives- president and publisher Thomas P. McDevitt, cheif financial officer Keith Cooperrider, and charman Dong Moon Joo, according to the New York Times. Former vice president, Jonathan Slevin has been named acting president and publisher.
Executive editor, John Solomon, was not present in the offices on Monday, but it has been rumoured that he may be planning to step down following the shake-up. He is said to be "taking a few days to consider his options," according to Talking Points Memo, as quoted by the New York Times.
Though the Washington Times gave no indication as to a motive for the change in management, the Washington Post suggests that it was economically motivated. The Washington Times is owned by Unification Church, now run by Hyung Jin Moon, son of longtime leader Rev. Sun Myung Moon, who named his successor just last year. Rev. Moon has reportedly put over $2 billion into the Times since founding it in 1982. While the traditionally conservatively leaning paper was showing only a 17 percent decrease in circulation- a fraction of the decrease for its major competitors- the drop has appeared to be too considerable for the paper. Indeed, the Times is within the States' top 20 newspaper sites despite its low circulation numbers. Another statistic that could have affected the paper's revenue.
There is also speculation by the Post that the firings were caused by a power struggle between three sons and a daughter of Rev. Moon, who are now all vying for power from their father, who is nearing 90 years old and, most likely, full retirement.
The fate of Solomon's job as well as the future changes in employment at the Washington Times should be announced in the near future.