Skip to comments.Koch Brothers No Longer Interested in Buying Tribune Papers
Posted on 08/23/2013 12:43:37 PM PDT by SeekAndFind
Charles and David Koch are no longer contemplating a purchase of the Tribune Companys chain of newspapers, a spokeswoman for the billionaire industrialists said on Thursday.
The spokeswoman, Melissa Cohlmia, affirmed a report by the conservative news Web site The Daily Caller that said Koch Industries where Charles is chairman and chief executive and David is an executive vice president had concluded that the acquisition was not economically viable.
But other acquisitions in the media industry might be: Koch continues to have an interest in the media business, and were exploring a broad range of opportunities where we think we can add value, Ms. Cohlmia said in a statement. She declined to elaborate.
The notion that the Kochs could acquire Tribunes newspapers, including The Los Angeles Times and The Chicago Tribune, arose nearly six months ago. It was divisive at the time, prompting protests by liberal groups and media reform groups that cast the Kochs who are prominent donors to libertarian causes and Republican politicians as threats to independent journalism.
The ensuing controversy drew unwanted attention to the Kochs, who had previously shown just a passing interest in media investments.
Tribune declined to comment on the news reports about the Kochs on Thursday, but a spokesman said the companys plan to spin off the newspapers was proceeding apace. That plan was announced in July as an alternative to selling the newspapers right away, though a sale of all or some of the papers could still happen.
(Excerpt) Read more at nytimes.com ...
makes no economic sense to buy the Tribune Company
Good. Let ‘em fail.
Soon they will be sold for $1 like that other formerly great newspsper in NYcity
I always figured they were too smart to throw their money away and were only yanking the Left’s chain.
Maybe too much debt???
apparently the websites would not be sold with the media outlets and the sites provide half their profits or something
That is sad.
makes me happy.
Maybe all the scribes who lose their jobs can apply for comparable positions at DNC headquarters. They wouldn’t have to do anything different except report to a new work location.
They should pay him to take them
It was fun to watch the Demo-Sore Media Squirm over this one...
They have already been working for the DNC for free for many years.
Correct. But let them try to get paid for it now.
I hope they start their own newspaper.
Thats the ticket!
All the Trib workers should invest their pensions and buy it out!!!
Set up an ESOP maybe that Zell guy will help!!!
So are the Times-progs going to be relieved because the Kochs took a pass, or are they going to be upset because those “evil business people” have essentially made a public announcement that no prudent person would buy their paper? My guess is they’ll attack.
Koch will be sued for disclosing that information about the websites being their main source of solvency and it would be cut off if there is a sale.
Wouldn’t surprise me. To a prog, telling the truth is the ultimate crime.
Maybe all the scribes who lose their jobs can apply for comparable positions at DNC headquarters. They wouldnt have to do anything different except report to a new work location.
All that, Vigilanteman, and probably take home bigger pay checks, too.
Start their own TV channel instead