The Mystery Is Over: Billionaire Adelson Owns Las Vegas Paper

The Mystery Is Over: Billionaire Adelson Owns Las Vegas Paper

The high price of the Review-Journal - $38 million more than the paper and a smaller portfolio sold for in March - has led to suspicions that the buyer may have a political agenda, given Nevada's role as an election swing state near the front of the Republican primary cycle.

It has been suggested that Adelson wanted the news to remain private until after the Republican debate that was held in Las Vegas on Tuesday evening, December 16, as reported by the Inquisitr.

Michael Schroeder, a Connecticut-based publishing executive who identified himself to the paper's staff as manager of the News + Media Capital Group, declined to comment when reached Monday.

Today, the Review-Journal published its own front-page article highlighting the outrage in journalism circles over the mysterious sale-there are no other newspapers of any significance in the United States whose owners are not known-as well as clues that Schroeder has links to Adelson.

For the second time this year, the Boulder City Review, along with the Las Vegas Review-Journal and its sister publications in Nevada are under new ownership. "There are hundreds of local daily papers", he said.

He said he doesn't expect them to be involved in news or editorial decisions because Gatehouse Media LLC, a subsidiary of the previous owner, will keep running the publication with a Sunday circulation of 184,000. Shortly afterward, CNN Money reported the details of an interview with Adelson, in which he said he had "no personal interest in The Review-Journal" - a statement that appeared to leave plenty of wiggle room for other forms of ownership.

Adelson hasn't hesitated to use his ownership of news media organizations to attempt to influence politics overseas. The secretiveness of the deal, in which the newspaper refused to reveal its new owner, got him off to a rocky start with colleagues in his new business venture. "Might the newspaper cover or ignore a story, or might this editorial page support a position, person or plan, because it directly benefits The Review-Journal's owners?" New Media Investment Group didn't respond to requests for comment.

The group joined media watchdogs, politicians and the paper's staffers in demanding to know who the new boss was during the weeklong mystery.

On the one hand, the R-J's reporting staff has proven its integrity and independence in its campaign for transparency and its tough coverage of the sale, which succeeded in exposing Adelson in a matter of days. His influential Republican Jewish Coalition presidential forum draws the top GOP candidates. Pity the poor Review-Journal reporters who have to find a way through that minefield with their dignity intact.

Andrew Seaman, the Society of Professional Journalists' ethics committee chairman, said there are still questions about why the new owners went through such great pains to hide their identity and waited so long to reveal themselves. Greenspun says there will clearly be some political differences between the two papers, "but that just makes for good reading".

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