Washington Times sales price: $1 plus debt

The Washington Times will be passed from one Unification Church-affiliated group to another for $1 plus the paper’s debts and liabilities, an internal memo confirms, again giving Rev. Sun Myung Moon control of the newspaper he founded in 1982.

Last week, Executive Editor Sam Dealey confirmed that there was a deal on the table to sell the publication to News World Media Development, a Unification Church entity headed by former Times Chairman Douglas M. Joo, but there was no word on a price. While the offer stands at $1, the debts and liabilities that News World Media Development will take on could put the price tag in the millions, making the deal similar to the Washington Post’s recent sale of Newsweek for $1 plus debt to Sidney Harmon.