From Twitchy.com's own About page:
Owner, Founder, and Chief Executive Officer: Michelle Malkin
Let's give Malkin her due: Twitchy is an impressive portal page, has a fairly large staff (8 Editors listed, as well as her husband Jesse Malkin listed as VP of operations), and runs a number of dedicated Twitter accounts that monitor liberals on Twitter under the categories of US Politics, sports, celebrities, and media. They are also are developing mobile apps.
To say that this is expensive is an understatement - but look more carefully at the bottom of Twitchy's website, where it says that hosting is by Wordpress.com's VIP hosting, whose services start at $3750 per month.
There are of course no ads on Twitchy.com and there isn't any revenue model - it's entirely free to end users. If you assume Malkin is paying her Editors minimum wage for 40 hrs/week, 50 weeks a year and draws no salary for herself and her husband, the annual salary expense alone is $120,000 a year. That's $10k/month and then add almost 4k/month for hosting, and that doesn't include any site design fees or app development.
Maybe Michelle Malkin sells enough copies of her pro-Internment book that she can bankroll an expense of at minimum $15k/month? Or maybe not.