Las Vegas Review-Journal’s secret buyer was Sheldon Adelson

Las Vegas Review-Journal’s secret buyer was Sheldon Adelson

 

It was casino magnate Sheldon Adelson who paid $140 million for The Las Vegas Review-Journal, the largest daily newspaper in Nevada, Fortune reported on Wednesday, quoting sources familiar with the situation.
A separate report from the Review Journal outed Sheldon Adelson’s son-in-law Patrick Dumont as the orchestrator of the newspaper purchase. According to the report, Dumont—listed as Las Vegas Sands Corp’s senior VP of finance and strategy—pieced the deal together “at the behest of his father-in-law.”

The 41-year-old lawyer married Sivan Ochshorn, daughter of Sheldon Adelson’s wife from a previous marriage, in 2009. Ochshorn-Dumont is listed as the owner and agent of Adelson’s Israeli newspaper, Israel Hayom.

For nearly a week, journalists and staff of the Nevada newspaper played the game, “Who is our new boss?” after learning that the newspaper and some of its sister publications have been sold to Delaware-based News + Media Capital Group LLC.

Michael Schroeder, manager of News + Media, told the Review Journal that the new owner “want you to focus on your jobs… don’t worry about who they are.”

Adelson, however, seemed to be enjoying the guessing game and still refused to come clean that he’s one of the new owners of the newspaper.

On Tuesday night, the chairman and CEO of Las Vegas Sands Corp. told CNN Money’s Brian Stelter that he has “no personal interest” in the Review-Journal.

Sheldon Adelson’s name came up as a possible buyer, especially since he already owns a daily newspaper in Israel, which Nevada columnist said the mogul “uses to wield political influence.” Billionaires Charles and David Koch were also named as possible buyers, but the brothers already denied purchasing the paper.

Experts believe that Adelson’s purchase—if it were really true—is not a case of vanity play, but more of a possible political influence in a swing state like Nevada. How that will play out is still up in the air, especially since Review Journal’s editorial writers are in the dark as to who really signs their paychecks.

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December 18, 2015: posted in News And Reviews No Comments

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