Koch Bros. to Buy LA Times?
According to the Hollywood Reporter, the Koch Brothers might be interested in purchasing the LA Times.
The Kochs, who some sources say are interested in the clout they could gain through the Times' editorial pages, could bid on their own or combine in a bid with Doug Manchester, the San Diego real estate magnate who bought the San Diego Union-Tribune in November 2011.
Tribune Co. newspapers emerged from a bankruptcy at the end of last year and hired investment firms as offers have rolled in to buy their print publications. The Kochs released this statement to the Reporter:
"As an entrepreneurial company with 60,000 employees around the world, we are constantly exploring profitable opportunities in many industries and sectors. So, it is natural that our name would come up in connection with this rumor. We respect the independence of the journalistic institutions referenced in today’s news stories, but it is our long-standing policy not to comment on deals or rumors of deals we may or may not be exploring. "
LA Weekly was the first to report about the possible sale. I think a Koch-owned LA Times would sure shake things up.