Koch Brothers Seek to Buy Los Angeles Times, Other Tribune Company Newspapers?


Two billionaire brothers are considering purchasing the Tribune Company’s eight newspapers in order to put forth a more libertarian-friendly news agenda.

Charles and David Koch, billionaires and avid political donors, laid out a three-pronged 10-year-strategy during an Aspen, Colo. seminar three years ago to help the country move toward a small government. The first two points were to educate grassroots activists and to lobby politicians, and the third was to influence media.

Now, Koch Industries, an energy and manufacturing conglomerate with plenty of capital to spare, is seeking to bid on the eight Tribune newspapers, which include The Los Angeles Times, The Chicago Tribune, The Baltimore Sun, and The Orlando Sentinel.

The $623 million cost to purchase the papers amounts to a rounding error Koch Industries, which brings in about $115 billion every year.

The eight papers together make up a good portion of nation-wide circulation. The Los Angeles Times has the fourth largest circulation in the country and The Chicago Tribune has the ninth. In addition, The Orlando Sentinel and The Sun Sentinel command a large degree of attention in the Florida battleground state.

Sources: New York Times, Business Insider


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