The Washington Times Sells For $1 Plus Liabilities

Posted Nov 4, 2010

The Washington Times is reporting that The Washington Times has been sold for $1 plus the assumption of liabilities. The Washington Times has been sold to a group that is operating on behalf of the paper’s founder Rev. Sun Myung Moon. The company said that the new ownership won’t change anything.

“We’ll continue to keep the highest standard in journalistic excellence in this leading democratic country that upholds the values of freedom, faith, family and service,” stated Douglas D.M. Joo.

The Washington Times was sold to TWT Holdings, which is owned by HSA-UWC. Rev. Moon is also the founder of the worldwide Unification Church. Thomas McDevitt is the incoming president of the Times.

[Washington Times]