REPORT: Koch Brothers Looking To Purchase Several Major American Newspapers AND Possibly TV Stations, Including KPLR and WGN
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, butit 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 may be interested in TV stations (including WGN, KPLR, WPIX, KTLA, et al.) owned by Tribune as well:
Sources tell the Weekly’s Hillel Aron that the Kochs are “considering an offer on either the Tribune Co. newspaper group, which includes the L.A. Times, the Chicago Tribune and the Baltimore Sun or the entire Tribune Co., which includes more than 20 stations like WGN and KTLA Channel 5.”
h/t: Think Progress Media