The New York Observer to Post a Profit for the First Time

(Via Capital New York)

The New York Observer Media Group, which at one time was rumored to be losing about $5 million a year, is expecting a profit this year. Christopher Barnes, the Observer Media Group’s President, told the New York Post, “We’re expecting a small profit in 2011 and a more substantial one in 2012.”

Apparently the first ever journey into the black is all thanks to the digital push that was ushered in by Jared Kushner, and then mastered by Elizabeth Spiers, the Editor-in-Chief of the New York Observer. Maybe that’s why the Observer is expanding its editorial operations — things are truly going great there.

Of course not everyone is buying Barnes’ rosy outlook.

One person told the Post, “If he’s making money, I’ll eat my hat in front of Macy’s window.” To that we just have to ask, what is this, 1912? Where the hell did the Post find someone who says “eat my hat?” We’re more interested in that than if Barnes is telling the truth or not.