Republican mega-donor Sheldon Adelson is the mystery buyer of The Las Vegas Review-Tribune, Fortune reports
The purchase of Nevada's largest daily newspaper for $140 million happened last week, but the primary buyer went to great lengths to stay anonymous. Connecticut newspaper publisher Michael Schroeder was the only name listed on regulatory filings.
But Fortune says multiple sources have confirmed Adelson is the main buyer. Neither Schroeder nor Adelson will confirm that.
Why Adelson won't admit to be the buyer is a cipher, Fortune reports.
"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)," writes Fortune's Dan Primack. "What that leaves is political influence, particularly in a swing state like Nevada."
Still, Primack notes, it wouldn't be easy to influence editorial positions or news coverage if the employees of the paper don't even know who the owner is.
And since employees of the paper don't even know the owners, they face problems disclosing conflicts of interest, the Review-Journal's James DeHaven wrote on Friday
But since Adelson's Venetian hotel/casino hosted Tuesday's GOP presidential debate,
he might have been trying to keep his ownership secret until after the debate to avoid a distraction, Primack writes.
"But, if that were the case, an announcement likely would have been made by now," he added
Adelson himself brushed off the speculation in an interview Sunday with CNN's Brian Stelter.
"He repeatedly said 'no,' saying at one point, 'I have no personal interest,”' which made me wonder if he was leaving some wiggle room in his answer. Could he be involved through intermediaries?" Stelter wrote.
"Everyone thinks it's either me or Steve Wynn," Adelson said.
When Stelter asked if his rival casino owner Wynn is the newspaper's main owner, Adelson said, "It could be."
© 2024 Newsmax. All rights reserved.