After a confusing flurry of reports, it appears that control over the Washington Times will revert back to its founder, the controversial Reverend Sun Myung Moon of the worldwide Unification Church. Moon had handed the paper over to his son, Preston Moon, who made significant staff cuts in what he said was an effort to keep the paper afloat. The new owner of the paper will officially be Douglas Joo, who is an ally of the reverend and whose company bought the paper for $1. With the purchase, Joo assumed all debts and liabilities for the publication, similar to the way Sidney Harman did for Newsweek when he recently purchased it from the Washington Post Company. Except with fringe religious leaders.
Washington Times Sold For $1, Just Like Newsweek [Washington Whispers/U.S. News]