Interesting news this evening confirming rumors that started back in late August. To make a very Byzantine story short, an entity run by Rev. Sun Myung Moon has purchased back the nearly bankrupt Washington Times for $1 and an agreement to assume all the paper's extensive debts. Plan is to ramp what's left of the Times back up into being a respectable newspaper once again, apparently re-incorporating local coverage, the much-mourned sports section, and at least some entertainment coverage. Which former editors will be rehired, if any, remain to be seen.
I got a tip on this earlier in the evening. But the story is now running on Bloomberg and elsewhere. Here's the Times' own take on recent events. No details yet as to when and how the ramp up will occur.
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