TWT Managing Editor David Jones finally addressed staff via below memo after "rumors and semi-accurate press information started circulating." The memo offers no more information than the release issued through Business Wire more than an hour before.

Hmmm. Do you think that the "rumors and semi-accurate reporting" might stem from the fact that the Times issued a press release well before notifying their own staff?

Given that a lot of rumors and semi-accurate press information is already circulating, I want to share with you all this press release which was issued this morning. I and a few other senior editors are going to be briefed in more detail this morning. Shortly after that I will convene a meeting with everyone in the newsroom to try to answer questions.

Release after the jump.

Washington Times to Assess Positioning in Response to Market Changes;
New Management Team to Focus on Sustainability Planning

WASHINGTON, DC – The Washington Times LLC today announced that it is continuing on its path toward a sustainable multimedia news enterprise involving leadership expertise from within The Washington Times and directed by its Board of Directors and its parent company, News World Communications LLC.

Today’s industry conditions and the general economic downturn necessitate this team-based assessment, planning, and subsequent implementation of a plan to enable The Times to become a sustainable multimedia company in today’s challenging news industry environment.

Jonathan Slevin has been named Acting President and Publisher of The Washington Times. Tatum executive services and other specialists are providing assistance to a new Washington Times leadership team. The process will clarify the steps needed to achieve the goal of a market-based, financially sustainable media enterprise.

Mr. Slevin previously served as a vice president of The Washington Times, was managing editor of the New York City Tribune, held executive business management positions in other industries, and is the author of several books. He comes from a journalism family that includes his late father, a reporter on the political economy and former president of The National Press Club, his cousin who was formerly editorial page editor of The Los Angeles Times, and his uncle, editor in chief of The Baltimore Sun and a Pulitzer-prize winning reporter in international affairs.

Thomas P. McDevitt has been relieved of his duties as president and publisher of The Washington Times. Keith Cooperrider, former chief financial officer of The Washington Times, has also been relieved of his duties, as well as Dong Moon Joo, who was serving in a titular role as chairman.

“The Washington Times values the highest standards of journalism and a commitment to serving the citizens of our democratic form of government with the news they need to make informed decisions on matters in our vital collective and personal interests,” said Slevin. “Our assessment team looks forward to emerging with a market-based plan that supports the sustainability of The Washington Times and advances the Times’ role as an important source of news and opinion for readers who value a diversity of information and analysis.”

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