A group of fired
Washington Times
executives led by the Rev. Sun Myung Moon, the paper’s founder, has repurchased the conservative newspaper from Moon’s eldest son for $1,
the
Washington Post
reported.
Moon, along with former president and publisher Thomas McDevitt, chairman Douglas M. Joo and finance chief Keith Cooperrider, will assume the conservative paper’s debt and liabilities, the article said.
Preston Moon, Rev. Moon’s eldest living son, fired the executives after he took control of the
Times
four years ago, according to the
Post
report.
Four years ago, Moon, known in [Unification Church] circles as “True Father,” gave control of the
Times
to Preston, but the son grew estranged from his parents and brothers, who then cut off the paper’s annual $35 million subsidy in church funds, according to
Times
sources and church memos.
Completion of the deal “marks the end of a tense two months of brinksmanship in which sources said Preston Moon came close to closing the paper,” the
Post
reported. (Source:
Washington Post,
Nov. 3, 2010.)
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