ink-stained riches

Koch Brothers Admit They Eyed Tribune Co. Papers by Saying They Won’t Buy Them

After much speculation that Charles and David Koch were looking at picking up the Tribune Co.’s eight newspapers, the brothers said today they are no longer interested — a statement that in itself admits they were once interested. Apparently, after conducting a due diligence assessment of the media company, the Koch brothers decided “a deal wasn’t financially viable.” Fear not though, as a media mouthpiece backed by the billionaire libertarians still seems to be in the works: “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,” said a statement from their company.

Meanwhile, USA Today reports that the recently bankrupt Tribune Co. spun off its publishing leg into the newly-formed Tribune Publishing, retaining television, radio, and digital properties as its main bread and butter. This means their cache of newspapers — including “crown jewels” the Los Angeles Times and Chicago Tribune, as well as The Baltimore Sun, the Sun Sentinel (South Florida), Orlando Sentinel, Hartford Courant, The Morning Call in Allentown, Pa., and The Daily Press in Newport News, Va. — are still up for grabs. Rupert Murdoch, call your office.

Koch Brothers Not Buying Tribune Papers