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01may10
Washington Times considering sale: report
Executives at the Washington Times are looking into a possible sale of the newspaper, which has slashed staff in recent months in order to cut costs, The Washington Post reported on Saturday.
The daily newspaper, started in 1982 by Unification Church founder the Rev. Sun Myung Moon, is in discussions with a number of parties interested in either buying the paper or becoming a partner with it, Nicholas Chiaia, a member of the paper's board of directors said in a statement, the Post reported.
Chiaia and a spokesman for the Washington Times could not be reached for comment.
Late last year, the newspaper eliminated its sports department as part of a cut of at least 40 percent of its staff to try stem losses amid advertising cuts and declines in readership that have plagued much of the newspaper industry.
[Source: Reuters, Washington, 01May10]
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