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Ailing Washington Times sold to founder for $1

Ailing Washington Times sold to founder for $1

The Washington Times, one of many ailing U.S. newspapers, has been sold for a $1 to a group backed by its founder, Unification Church leader Rev. Sun Myung Moon.
The deal closed late Monday after months of wrangling, according to a story published Tuesday on newspaper's website. Sam Dealey, executive editor of The Washington Times, confirmed the sale with The Associated Press.
Preston Moon, the oldest son of Rev. Sun Myung Moon, had been running the newspaper since his father turned it over to him four years ago.
The elder Moon's group also will take on the newspaper's liabilities. The new ownership will bring back executives that had been ousted last year: former chairman Doug Joo and former publisher Thomas P. McDevitt.


Updated : 2021-08-04 22:00 GMT+08:00