New life for Washington Times

Politico ^ | 08/25/2010 | KEACH HAGEY

[OldDeckHand]

The owner of the Washington Times entered into an agreement Tuesday to sell the paper to another entity affiliated with its parent, the Unification Church, which would return funding to the cash-strapped conservative publication, POLITICO has learned.

The agreement was made Tuesday afternoon between News World Communications, the paper’s parent company, chaired by Preston Moon, and News World Media Development, a Delaware-registered LLC tied to other factions of the Unification Church, according to sources close to the negotiations. It sets forth a 30-day period for both sides to conduct due diligence, after which the paper will be sold, if both sides still want to go forward.

[OldDeckHand]

It's welcomed news that it won't be shutting its doors in the immediate future, but its long term future is still tenuous, at best.

It's a puzzle why conservative (leaning)print and web media outlets struggle and are MUCH more opinion-centric rather than news gathering organizations. The WT has only a sliver of its former news-gathering resources available. So long as the MSM continues to control the "story", they'll have the advantage irrespective of how effective the conservative commentators may be.

HuffPo and Politico have both proven that there's a market still for news, although HuffPo clearly is MUCH more opinion oriented, it methodically building a news organization as well. Politico makes money hand-over-fist. Its a mysterious dynamic.

[J Edgar]

This is not good. A Conservative voice is going to be muted in the very near future, probably before November elections. JMHO

[TChad]

I hope this new “entity” can enable the WT to rehire most of its staff. I want my old newspaper back.

[Tolerance Sucks Rocks]

Maryland PING!