UNITED STATES: POLITICS: POLITICAL PARTIES: REPUBLICAN PARTY, TEA PARTY : INDUSTRIES: PETROLEUM INDUSTRY : NEWSPAPERS: Koch Brothers No Longer Interested in Buying Tribune Newspapers

[David P. Dillard]

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UNITED STATES: POLITICS: POLITICAL PARTIES: REPUBLICAN PARTY, TEA PARTY :

INDUSTRIES: PETROLEUM INDUSTRY :

NEWSPAPERS:

Koch Brothers No Longer Interested in Buying Tribune Newspapers

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Koch Brothers No Longer Interested in Buying Tribune Newspapers

By Stuart Pfeifer

August 22, 2013, 5:56 p.m.

Los Angeles Times

http://www.latimes.com/business/money/la-fi-mo-koch-brothers-
no-longer-interested-in-buying-tribune-newspapers-
20130822,0,4176565.story

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A shorter URL for the above link:

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http://tinyurl.com/kv22tum

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Billionaire industrialists David and Charles Koch have scrapped their
efforts to buy the Los Angeles Times and other Tribune Co. newspapers, a
Koch Industries spokeswoman said.

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Word that the politically conservative brothers were interested in the
chains eight newspapers surfaced four months ago, prompting protests from
labor unions and other groups who said they feared the papers coverage
would be skewed to favor anti-union objectives.

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The Kochs decision not to pursue the newspapers was first reported by the
Daily Caller, a news website founded by conservative pundit Tucker Carlson
and Neil Patel, former advisor to former Vice President Dick Cheney.

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The website, citing unnamed sources with knowledge of the proceedings,
said the Kochs conducted due diligence and determined that the newspapers
were not economically viable. They have not been interested in buying the
newspapers for a couple months, the website reported.

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Melissa Cohlmia, a spokeswoman for Koch Industries in Wichita, Kan.,
confirmed that the company is no longer interested in the newspapers,
which also include the Chicago Tribune and Baltimore Sun.

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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, Cohlmia said
in an email to The Times.

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The complete article may be read at the URL above.

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