Tuesday, December 15, 2015

Strange Newspaper Company Buy

From the LV Sun: Questions about who owns the Las Vegas Review-Journal and why they continue to refuse to come forward remained unanswered today, days after the publication sold for nearly $40 million more than the paper and its parent company sold for just nine months ago.
Greenspun said the backers of News + Media Capital Group LLC, which made the purchase, hadn’t revealed themselves to him, even though the Sun is published and distributed under a joint operating agreement with the R-J. The Sun receives a portion of the R-J’s revenue under the agreement, which is regulated by the U.S. Department of Justice.
Greenspun said he has a good idea of the new owner’s identity.
New Media Investment Group, which paid $102 million for the holdings of the R-J’s parent company, Stephens Media, in March, will continue to run the organization’s day-to-day operations. It is a publicly traded company, which netted $37.5 million in accepting News + Media’s offer of $140 million.
“I don’t think the R-J has made appreciably more money in the last eight months than prior to the sale,” Greenspun said. “How do you justify that premium? If you really want that newspaper and are willing to overpay, that tells me it is someone who is very wealthy who doesn’t particularly care about money. Power? Maybe.”  http://lasvegassun.com/news/2015/dec/14/journalists-baffled-and-concerned-about-secrecy-in/
It does seem strange that 99.99% of the people don't know who bought the LVRJ.
And the liberals are going ape shit thinking that some conservative with lots of money bought the LVRJ, like maybe the Koch brothers.
Or it could be a person who doesn't like the lime light but thinks the LVRJ is a good buy, especially considering that the Las Vegas continues to grow at a fast pace and that means more subscribers and more advertising.
Liberals always seem to think that there is a spook behind every door and they are just in fear that there may actually be a conservative newspaper.


  1. What a wonderful way to sell more newspapers! Everyone will be reading the RJ to see if it is moving to the right or left, especially before an election. :)

  2. The RJ was already editorially right-leaning. But now that it's Sheldon Adelson running it? Oy!