Sheldon Adelson New Las Vegas Review Journal Owner?
Speculation is running high that casino billionaire and staunch online gambling opponent Sheldon Adelson is the new owner of Nevada’s biggest newspaper The Las Vegas Review Journal.
The new owners until now have refused to identify themselves.
That paper just sold for $140 million and includes the acquisition of several other smaller papers throughout the state. This is the second time in under a year that the Las Vegas Review Journal has been sold. Stephens Media LLC bought it for $102.5 million back in March.
Adelson is not just any casino billionaire. He’s also one of the biggest donors to the GOP party. His casino will host this week’s Republican debate.
The Huffington Post writes:
It's highly unusual for a newspaper owner to remain secret. Typically, wealthy buyers of newspapers want the public clout that comes with owning a media outlet, and journalists around the country expressed surprise at word of a secret ownership.
There has been speculation about the backers' motivations and identities, including whether billionaire casino mogul and Republican donor Sheldon Adelson could be involved in the sale. (An Adelson representative did not respond to a request for comment.)
The mysterious ownership structure could also lead to Review-Journal reporters unknowingly wading into conflicts of interest if covering businesses owned by the undisclosed backers. The lack of disclosure appears hypocritical given newspapers' traditional role of seeking transparency from others.
The paper’s own reporters have expressed outrage, wondering whether their reporting might present a conflict of interest.
Adelson is currently pushing legislation that would ban most forms of online gambling in the United States.
- Gilbert Horowitz, Gambling911.com
