The Washington Times Set to Sell For a Dollar; Paper Floundered as Donations from Japan Went Missing

[babsbunny]

http://www.observer.com/2010/media/washington-times-deal-closes

By Zeke Turner
September 1, 2010 | 11:57 a.m

Following rumors that reverend Sun Myung Moon would be buying back The Washington Times from his son Preston Moon, the terms of the deal have been released.

Douglas Joo, a trusted friend of Mr. Moon and a former chairman of the paper who was dismissed by Mr. Moon's son, is handling the deal to buy the paper back. Mr. Joo will pay a dollar to acquire the paper for News World Media Development LLC, a company he registered in Delaware.

[Ken Burch]

1. Y'know, maybe it's just me, but I'd be a little teensy bit nervous about ripping off the Moonies

You'd want to make sure you had enough cash on hand to relocate somewhere where they couldn't find you.

[aquart]

2. Newsweek sold for a dollar?

Mr. Joo will pay a dollar to acquire the paper for News World Media Development LLC, a company he registered in Delaware.

"These are exactly the same terms on which Newsweek was sold by the Washington Post Company at the beginning of August," wrote Washington Times adviser Michael Marshall in a memo to the paper's staff that was leaked to the press.

[gophates]

3. I'd buy it for ten times that

Then kill it.

[ChairmanAgnostic]

4. but you'd own that everlasting debt.

The Times is way in the red. Of course, their asshole editorial positions probably helped accelerate that.