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Mark Ein and his wife, Sally Stiebel, attend the 2015 U.S. Open in Flushing, Queens. PhotoL Jean Catuffe / GC Images

Mark Ein (pronounced "eyen") — a Washington-area investor, entrepreneur and philanthropist who controls the Kastle Systems building-security company and founded the Washington Kastles tennis team — is buying the floundering Washington City Paper, a 36-year-old alt-weekly.

Why it matters: Ein told me in a phone interview: "I truly believe journalism is saving the world."

Ein said the deal was speeded up after the current owner, SouthComm, told employees Monday that their salaries would be cut 40% starting Jan. 1.

  • He said the City Paper loses less than $1 million a year. He said he wants it to break even or better so it's sustainable, but added: "This doesn't fall into the profit part of my life."
  • He said he didn't pay "a huge amount of money," but assumed the liability and burn rate.
  • Ein plans to keep the print edition, which is important to the major arts organizations that are key advertisers.
  • Ein said he likes the arts and entertainment, food and local politics coverage, and would like to see the addition of local sports, and perhaps coverage of life outside the District, in the near-in suburbs. (He lived in D.C. much of his life, but now is in McLean.)
  • Ein formed a Washington City Paper Journalist Alumni Group to help re-energize the paper. Members include CNN anchor Jake Tapper, author Ta-Nehisi Coates and Pulitzer-winning journalist Kate Boo. Recode executive editor Kara Swisher was a City Paper editor.
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Go deeper

Ipsos poll: Support growing for abortion rights in Latin America

Members of feminist groups in Saltillo, Mexico, after the decriminalization of abortion was approved in Coahuila, Mexico. Photo: Antonio Ojeda/Agencia Press South/Getty Images

Support for abortion rights in some Latin American countries has jumped considerably since 2014, with Argentina seeing the biggest shift, an Ipsos poll finds.

The big picture: The view that abortion should be permitted at least under certain circumstances is held by a majority of adults surveyed in Argentina, Brazil, Chile, Colombia, Mexico and Peru.

Biden claims "era of relentless war" is over in first UN speech

Photo: Eduardo Munoz/PoolL/AFP via Getty Images

Addressing the UN General Assembly for the first time since taking office, President Biden laid out his vision for how the U.S. will confront what he characterized as a "decisive" next decade in human history.

Why it matters: In the face of unprecedented global challenges — the pandemic, climate change, rising authoritarianism — Biden made a case for multilateralism, democratic values, the rule of law and empathy for common struggles.

Treasury sanctions cryptocurrency exchange over ransomware transactions

Treasury Secretary Janet Yellen during a congressional hearing in June. Photo: Greg Nash/The Hill/Bloomberg via Getty Images

The Department of the Treasury announced Tuesday it will sanction cryptocurrency exchange SUEX for allegedly facilitating financial transactions for multiple ransomware actors.

Why it matters: The sanctions, the first against a cryptocurrency exchange platform, are part of the Biden administration's crackdown on ransomware in response to several high-profile cyberattacks this year.