Koch brothers not interested in buying Tribune newspapers
BY ART GOLAB Staff Report August 22, 2013 7:28PM
Chicago Tribune | (Scott Olson/Getty Images)
Updated: September 24, 2013 6:41AM
Conservative billionaire industrialists Charles and David Koch are no longer interested in buying the Chicago Tribune or other Tribune newspapers.
Melissa Cohlmia, a spokeswoman for Koch Industries, based in Wichita, Kan., confirmed a report posted Thursday on the Washington news site the Daily Caller saying that Koch Industries wouldn’t be buying any of Tribune’s daily newspapers after conducting a review.
“Koch continues to have an interest in the media business and we’re exploring a range of options where we think we can add value,” Cohlmia said in an e-mail to the Sun-Times.
Reports of the Kochs’ interest in buying all the Tribune’s newspapers surfaced in March, prompting protests from some who feared the brothers would use the newspapers to promote their conservative ideology.
In July the Tribune announced a plan to spin its publishing assets into a separate company, apart from its more profitable broadcasting and online holdings.
The Tribune’s most recent financial results showed most of its revenue comes from its newspapers — which also include the Los Angeles Times and the Baltimore Sun — but its profits are overwhelmingly from broadcasting.