Washington Times newspaper sold for $1

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Washington Times newspaper will be sold for a dollar, with all its financial obligations, by a group affiliated with the Unitarian Church to another group belonging to the same worship, Media Week informs.

Pastor Sun Myung Moon wants to regain control of the Washington Times, after the South Korean leader’s allies agreed to buy the newspaper for a dollar, but with its financial obligations, according to an internal memo quoted by U.S. media.

The deal, one similar to that Washington Post Newsweek magazine sold to the businessman Sidney Harmon, provides for the transfer paper from a buyer to another affiliate of the Unitarian Church.

News World Communications is also asking Delaware-based News World Media Development to assume the paper’s financial and legal obligations to its employees and creditors in the tentative deal.

Short URL: http://newskf.com/?p=1225

Posted by P.Jeanelle on Sep 1 2010. Filed under Featured News, Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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