The Las Vegas Review-Journal is the largest circulating daily newspaper in Nevada with a history dating back over 100 years, but even its own highly credentialed team of journalists has had no luck in answering the most pressing question of the moment. Who owns their newspaper?
Last week, a mystery buyer paid US$140 million in cash to buy the paper from New Media Investment Group – a stunning figure given the former owners had acquired The Las Vegas Review-Journal plus seven other daily newspapers for just US$102 million in February.
The best anyone has been able to come up with is that the paper was purchased by a company called News + Media Capital Group L.L.C. which was only incorporated in September. But exactly who is behind this new company remains unknown.
The fact that they paid so much seemingly without blinking an eye has only added to the intrigue. Speculation has thrown up everyone from politicians and political parties to none other than Sands supremo Sheldon Adelson as potential candidates. It certainly wouldn’t come as any great shock if Adelson was indeed the culprit given his significant financial means with The Las Vegas Review-Journal perhaps seen as a powerful vehicle for pushing his policy views.
But whoever it is, for the time being at least their secret remains safe.
