Monday, November 27, 2017

Jessica Corbett - 'Alarm Bells Should Start Ringing' as Koch Brothers Invest $650 Million to Create 'Media Megaphone'

A media company backed by the conservative billionaire brothers will acquire Time, Fortune, People, and Sports Illustrated magazines


Critics of media consolidation and the fossil fuel industry are decrying an announcement that the media company Meredith Corp., with a $650 million boost from conservative billionaires David and Charles Koch, will buy Time Inc.—which owns Time, Fortune, People, and Sports Illustrated magazines—for an estimated $2.8 billion.

In a statement announcing the all-cash deal, Meredith Corp. insisted that Koch Equity Development—a subsidiary of Koch Industries, the billionaire brothers' company that's largely been built through investments in oil, natural gas, and chemicals—"will not have a seat on the Meredith Board and will have no influence on Meredith's editorial or managerial operations."
"But not everyone believes the spin," as Andy Rowell writes for Oil Change International. The Kochs are "some of the biggest funders of groups promoting climate denial and libertarian causes for the last two decades," he notes. "Alarm bells should start ringing."

Common Dreams

3 comments:

Bob Roddis said...

Don't worry. The Kochs are weenies and are widely despised for it by real libertarians.

The Kochs are "some of the biggest funders of groups promoting climate denial and libertarian causes for the last two decades

With the almost 100% suppression of libertarian analysis by scaredy cat statists, even a slight crack in the wall of silence sends them into a panic knowing their own inability to even familiarize themselves with basic libertarian and Austrian concepts.

Noah Way said...

I'm guessing you're a libertarian?

Matt Franko said...

I guess Reason Magazine wasn’t enough for them...