Report: Koch Brothers Eye L.A. TimesTuesday, March 12, 2013
Billionaire brothers Charles and David Koch are considering a bid for the Los Angeles Times, according to a report Tuesday by L.A. Weekly.
The Koch brothers, who have a combined net worth of $78 billion according to Forbes, are reportedly considering bids to buy either all of the Tribune Co. newspapers, a package which includes the Times and Chicago Tribune, or all of Tribune Co., which includes the newspapers and a group of TV stations, including KTLA (Channel 5).
The brothers jointly own Koch Industries of Wichita, Kan., with interests ranging from oil pipelines to agriculture. They are large donors to Republican candidates and founders of conservative political organizations such as Americans for Prosperity.
Late last month, Tribune Co. hired investment banks Evercore Partners and JPMorgan Chase to vet potential bidders. An unnamed source told the Weekly that Tribune has received a multitude of unsolicited offers.