The broadsheet will be sold by Moon's son Preston Moon's News World Communications to News World Media Development, a Unification Church company headed by Douglas M. Joo, the former chairman of the Times who was pushed out in November.
A memo obtained by U.S. News & World Report -- written by Michael Marshall, UPI editor emeritus and an editorial adviser to Preston Moon's New World Communications -- criticizes recent media coverage which suggested the paper might be closing. More recent reports that emerged last week said that Moon would be buying back the publication.
Many of the former Times officials fired by Preston Moon will be reinstalled once the sale is complete, according to U.S. News & World Report.
Correction: An earlier version of this post incorrectly identified the role of Michael Marshall. He is an editorial adviser to News World Communications, the current owner and prospective seller of the Washington Times. We regret the error.