We can’t have Free marketeers the Koch brothers owning a news company… horrors!
Liberals think all newspapers should be controlled by progressives and unions (any wonder why newspapers are going under at alarming rates)
Here is Wapo coming to the aide of Tribune company, giving them advice on how to keep the Koch brothers off their turf… Kind of like gangs teaming up to fight off the police.
The Koch brothers have become the nation’s leading cheerleaders for free markets where consumers, employees, entrepreneurs and investors are free to pursue their own selfish interests without interference from government or unions or anyone else for that matter.
Now comes word that the billionaire brothers want to buy up the Los Angeles Times, one of the nation’s last remaining quality newspapers, or its parent, the Tribune Co., which has only recently emerged from bankruptcy reorganization following the disastrous takeover by real estate mogul Sam Zell.
All this has come to a head because the bottom-fishing hedge funds that grabbed control of Tribune during a thoroughly mismanaged bankruptcy process are determined to sell the company to the highest bidder. The money men at Oaktree Capital Management and Angelo, Gordon & Co. don’t care one whit about the impact of a sale on the Tribune’s employees or journalism, or the communities it serves, or the role its newspapers play in the democratic life of the nation. They are busy gussying up the balance sheet before the investment bankers at J.P. Morgan and Evercore Partners begin shopping the company around to deep-pocketed billionaires. Reportedly high on the list are the Kochs, Rupert Murdoch and Los Angeles billionaires Eli Broad, Ron Burkle and David Geffen.