Even the deep pockets of the Rev. Sun Myung Moon couldn’t keep the newspaper industry’s woes from squeezing the Unification Church-subsidized Washington Times, the Washington Post reports.

The Post reports that Times president and publisher Thomas P. McDevitt, chief financial officer Keith Cooperrider and chairman Dong Moon Joo were “relieved of their duties.”  Former Times vice chairman Jonathan Slevin was named acting president and publisher.

According to the Post:

Economics appears to be at the heart of the shakeup. The Times, established in 1982 by Unification Church founder the Rev. Sun Myung Moon as a politically conservative voice in the nation’s capital, has always been subsidized by the church. At the paper’s 20th anniversary, it was estimated by industry experts that Moon had put more than $1.7 billion into the Times. As such, the Times was largely shielded from long-term declines in readership and advertising that have hammered almost every other newspaper, causing deep cuts in coverage and staff, and even forcing some papers out of business.

But the recession has proved so great as to apparently have touched even the Times.

“It’s safe to say that the conditions impacting a lot of publications have also impacted the Times, and perhaps more so,” said Don Meyer, of Rubin Meyer Communications in the District, which is handling public relations for the newspaper.