Just yesterday, we published a post titled, Largest Newspaper in Nevada Was Just Purchased Anonymously for $140 Million, which speculated that multi-billioniare, oligarch Sheldon Adelson was behind the purchase. We now have confirmation that it was indeed him.
For nearly a week, the media and political worlds have been wondering who paid $140 million to purchase Nevada’s largest daily newspaper, The Las Vegas Review-Journal. The primary buyer had taken great pains to remain anonymous, but Fortune has learned from multiple sources familiar with the situation that it is Sheldon Adelson, chairman and CEO of casino operator Las Vegas Sands Corp.
Adelson, a major Republican Party donor who hosted Tuesday night’s debate at his Venetian property, had been widely rumored to be the buyer — including by employees at the Review-Journal itself, which this morning ran a front-page story that detailed Adelson’s ties to Michael Schroeder, a regional Connecticut newspaper publisher who was the only person listed on regulatory filings related to the sale.
Schroeder yesterday declined to identify the primary buyer, or to explain how he became involved with the Review-Journal purchase. Adelson has not responded to repeated requests for comment over the past several days.
What remains unclear is why Adelson has refused to come forward. Clearly this isn’t a vanity play, and it’s also hard to imagine it as a financial investment (particularly given the steep price tag). What that leaves is political influence, particularly in a swing state like Nevada. That said, however, it would seem difficult to direct editorial coverage when the actual editorial writers are in the dark as to who signs their paychecks.
This is a very important development, because Adelson has previously admitted that he doesn’t like journalism, and is clearly only interested in buying newspapers to advance his own demented political agenda. Never forget the following excerpt from the post, Inside the Mind of an Oligarch – Sheldon Adelson Proclaims “I Don’t Like Journalism”:
Billionaire casino mogul and conservative donor Sheldon Adelson said Sunday that the Palestinians are a made-up nation which exists solely to attempt to destroy Israel.
At the conference, which also featured top Democratic funder Haim Saban, Adelson also said Israel would not be able to survive as a democracy: “So Israel won’t be a democratic state, so what?” he asked Saban, adding that democracy, after all, is not mentioned in the Torah,and recommended that the country build a “big wall” to protect itself, saying, “I would put up a big wall around my property.”
Saban and Adelson should buy The New York Times together in an effort to bring more “balance” to the newspaper’s coverage of Israel and the Middle East, Adelson suggested to wild applause. Adelson already owns Israel Hayom, a free Israeli newspaper widely seen as reflecting the positions of Prime Minister Benjamin Netanyahu, who is considered close to Adelson, and, more recently, news website NRG and religious newspaper Makor Rishon.
“I don’t like journalism,” Adelson said, highlighting what he said was the media’s insistence on focusing on the empty half of the glass.
Class act all the way. Just another day in the American Oligarchy.
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