REPORT: Koch Brothers Looking to Purchase Several Major American Newspapers
Right-wing funders and business industrialists David and Charles Koch may purchase the Tribune Company newspapers, which include the Chicago Tribune, Baltimore Sun, and the Los Angeles Times. The brothers are “interested in the clout they could gain through the Times’ editorial pages,” the Hollywood Reporter notes. Responding to the report, a spokesperson for Koch told the website that the brothers are “constantly exploring profitable opportunities in many industries and sectors”:
Missy Cohlmia, a spokeswoman for Koch Companies Public Sector, LLC, issued the following statement to THR: “As an entrepreneurial company with 60,000 employees around the world, we are constantly exploring profitable opportunities in many industries and sectors. So, it is natural that our name would come up in connection with this rumor. We respect the independence of the journalistic institutions referenced in today’s news stories, but it is our long-standing policy not to comment on deals or rumors of deals we may or may not be exploring. ”
The Los Angeles Weekly was the first to report that the Kochs could be mulling the purchase of the newspaper assets, which make up $623 million of the company’s $7 billion holdings.
The Koch brothers own Koch Industries, the second-largest private company in America, and bankroll a network of Tea Party groups and Republican political war chests.
In 2012, the brothers spent millions to defeat President Obama and even sent mailers to employees urging them to support Mitt Romney and other conservative candidates.