Rev. Sun Myung Moon

Rev. Moon Regains Control As Washington Times Is Bought For $1

Ryan J. Reilly | September 1, 2010, 8:45AM

Rev. Sun Myung Moon

A Unification Church company controlled by leader Rev. Sun Myung Moon is buying back The Washington Times -- the conservative newspaper he started in the 1980s -- for the price of $1 and the assumption of the company's debt, according to an internal memo obtained by U.S. News & World Report.

Insiders at The Washington Times told U.S. News & World Report they were happy about the deal because they expect that church industry funds -- which unexpectedly stopped in July 2009 -- will resume and will keep the paper afloat. "It will turn the spigot back on," one insider said.

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