Unification Church will put Washington Times up for sale

Washington Post ^

[RatherBiased.com]

Washington Times executives are negotiating to sell the newspaper, after the Rev. Sun Myung Moon's family cut off most of the annual subsidy of about $35 million that has kept the Unification Church-backed paper afloat, company officials said.

Nicholas Chiaia, a member of the paper's two-man board of directors and president of the church-supported United Press International wire service, confirmed that the paper is actively on the market: "We recently entered into discussions with a number of parties interested in either purchasing or partnering with the Washington Times," he said in a statement to The Washington Post.

Current and former Times officials said one suitor has been the paper's former executive editor, John Solomon, who resigned in November 2009. Soon thereafter, they said, Solomon organized a group of investors to purchase the Times or launch a new multimedia outlet called The Washington Guardian. Times company officials said they are also in discussions with other potential investors.

[GeronL]

bump

[RightOnTheLeftCoast]

Hope they stay afloat. Some superb reporting and editorials there.

[CincyRichieRich]

What do we think it will fetch? Are there any conservative groups who could make it work? Breitbart? What is that conservative network that Kelsey Grammer is doing?

[Happy Rain]

Well,it will be nice if a veracity devoted patriot paper like the WT wasn't always dissed by the Left as a “Moonie rag.”

Rupert needs to add it to his empire.

[Cicero]

Well, I’m afraid you could see this coming. There seem to be internecine problems in the Unification Church. I hope someone can be found to take it over. I don’t think it’s ever been profitable, but perhaps something can be worked out.

[knarf]

Hmmm ... never thought of it before but ... THERE'S a connection for you ....

an aging Krishna hust;er and a younger Allah hustler.

I wonder how THIS will play out?

Popcorn anyone

[Bryan24]

Rush Limbaugh, this is your opportunity to get into the “traditional” media and spread the conservative gospel.

[Brilliant]

I think Murdock likes to make money. He’s not likely going to want to subsidize it to the extent of $35 mill per year.

But then I would guess he’s a better businessman than Moon as well. Might be able to turn it around.

[trumandogz]

The Washington Times has never been a major newspaper as just falls at the bottom of the top 100 US newspapers in the US.

I don’t think anyone will be willing to by it and eat that 35 million a year.

[Misterioso]

The Washington Times has never been a business.

[seowulf]

Hey, maybe if we all pitch in a hundred bucks we could buy this thing (after we get the FReepathon finished off of course).

[Gay State Conservative]

So this will give the Compost an extra 6 months of life.

[getarope]

Depending on the buyer, The WaTimes could go from Moonie to looney!

[homegroan]

I was thinking the same thing...get out your checkbook, Rush!

[Dante3]

Washington Times was an excellent newspaper. It provided information that other newspapers did not and included a quick overview of what was happening locally, nationally, and internationally. They had many other features that made it interesting, and I liked the layout.

[trumandogz]

Yes, it would difficult to call the newspaper with the 97th best readership that bleeds 35 mil a year a “business.”.

[GreyFriar]

Most of their top talent has departed in the last 6 months.

[GreyFriar]

However, it was the best newspaper read in Washington, DC. Less than a year after I discovered it, I canceled my subscription to the ComPost. That was 22 years ago

[Extremely Extreme Extremist]

The Washington Examiner has been eating its lunch.