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Famed D.C. entrepreneur and investor Mark Ein will buy D.C. alt-weekly Washington City Paper in a deal expected to close in the first week of January and to return the 36-year-old newspaper to financial health and stability. Ein, chairman and majority owner of the Washington Kastles, Venturehouse Group LLC and Falls Church security company Kastle Systems, didn't disclose terms of the deal, but cited the need for high-quality journalism — "particularly today," he said. “Every thriving community needs strong local news, and Washington City Paper has been a critical part of the fabric of our city, and a great incubator of journalistic talent, for decades," Ein said in a statement.
Two IPOs were completed last week: one a blank-check company and the other a video entertainment company.