Struggle For Control Of Washington Times Envelops Radio Venture, Too
September 7, 2010 at 3:45 AM (PT)
The WASHINGTON POST reports that the family struggle over control of the WASHINGTON TIMES led to the paper missing payments on its contract with TALK RADIO NETWORK for the production of the syndicated "AMERICA'S MORNING NEWS."
The POST article chronicles the conflict between Rev. SUN MYUNG MOON and his son PRESTON and the proposal under which father will buy the paper back from the son for $1 plus assumption of $8 million-$10 million in debt. In the article, the paper reports that the TRN deal called for the TIMES to pay $100,000 per month for three years in exchange for a share of ad revenues from the radio show. The plug was reportedly pulled on payments after the paper "lost hundreds of thousands on the radio show" and after PRESTON MOON, reportedly concerned about the paper's top three executives and their ties to his father's UNIFICATION CHURCH, fired Pres./Publisher THOMAS MCDEVITT, CFO KEITH COOPERRIDER, and Chairman DOUGLAS M. JOO, who are now aligned with his father in the takeover bid.
DCRTV.COM reported FRIDAY that TRN has taken control of "AMERICA'S MORNING NEWS" and has moved from the newspaper to another studio in the WASHINGTON area.