One subsidiary of the Unification Church is selling iconic but financially troubled conservative newspaper Washington Times to another Unification Church subsidiary, saving the struggling publication from extinction.
According to Politico.com, Preston Moon’s News World Communications will sell the newspaper to News World Media Development, which is said to be controlled by other factions of the church. Washington Times editor Sam Dealey said that “a very significant hurdle has been cleared.”
A 30-day due diligence period is said to be starting up, and it is reported that there is newfound optimism among the depleted staff, which went from over 200 to about 70 going back to 2002. But it still remains unclear how much more money the church is going to be willing to sink into the publication, which has never been profitable.