The Koch Brothers have decided against buying the Tribune Company’s newspapers, WHEW!
After conducting due diligence, Koch Industries has concluded the purchase is not "economically viable," a reliable source told The Daily Caller.
For the past four months, they have been considering a bid for Tribune’s eight regional papers, which include the Los Angeles Times, Chicago Tribune, Baltimore Sun and the Orlando Sentinel. The Tribune Company put the papers up for sale at the end of 2012.
But they could well be back. "Koch continues to have an interest in the media business and we’re exploring a broad range of opportunities where we think we can add value. In terms of the Tribune, the Daily Caller story is accurate," Melissa Cohlmia, a Koch Industries spokeswoman, told Politico.
The three legs of the Koch Bros strategy for a small government with much less regulation and lower taxes are:
1. Educating grass-roots activists
2. Influencing politics
3. Media
"The infamous Koch Brothers decided it isn’t worth their while to buy a bunch of newspapers that people would boycott. Now they will have to find some other vehicle for peddling their special brand of anti-worker, climate-denying hogwash," exclaims Senator Elizabeth Warren (D-MA).
They also faced furor on the part of the papers’ employees. About half the staff at the Los Angeles Times pledged to quit their jobs and protests were planned. The Hartford City Council passed a resolution this month opposing the sale of the Hartford Courant, another newspaper in the deal.
"An alternate buyer for the papers hasn’t been announced, but I’ll keep my eyes and ears open and continue to push for either a crowd-funded effort or an ethical business or investor group to take over the papers. These publications are too valuable to let fall into the wrong hands," Warren says.
Their new dark money group, the latest of many, continues. The Association for American Innovation is an an umbrella group that receives dark money and doles it out to its other dark money nonprofits.
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You have got to be kidding. A company that will come in and institute change that is warranted and can create value way above what our so-called President of Change could ever do. Wake up and look at where this country is headed!
The Koch brothers are a fun bunch; if nothing else,
they serve to animate debate of our great and sundry issues.
This is not good news or bad news, it is just news. Was Jeff Bezos buying the Washington Post, bad news? How about Ted Turner owning CNN, was that bad? There are no media moguls who are objective, and there is no such thing as objective journalism, especially in the realm of political news. Has anyone read the NYT, watched MSNBC or Fox lately?
Commenters, you have to be kidding – there is no comparison between the Koch Bros and any of the other buyers you name. Put Koch Bros in our search engine and learn what they are about.
I get tired on people and blogs demonizing the Kock brothers as if they are non-human monsters. So, you don’t agree with their conservative views. Big deal, get over it. They are just people like you with money. No one deserves the kind of demonization they typically get.
Bob, perhaps you aren’t aware of what the Koch Bros do if you don’t believe they deserve all the criticism. Have you read our articles about how they are trying to schools from elementary through college? Or about how their supposed non-profit groups (yes, they get past the IRS and don’t pay taxes too) are working tirelessly to perpetrate confusion on climate change? Trying to eliminate renewable energy, renewable fuels, any attempt to address climate change?