Owners of Nev.’s largest paper remain a secret
By Ric Anderson and Ray Brewer, Las Vegas Sun
Questions about who owns the Las Vegas Review-Journal and why they continue to refuse to come forward remained unanswered today, days after the publication sold for nearly $40 million more than the paper and its parent company sold for just nine months ago.
The sale has prompted speculation about who’s behind the purchase, but one name can be taken out of circulation: Brian Greenspun, owner, publisher and editor of the Las Vegas Sun.
“I already have a daily newspaper,” Greenspun said today, denying he was the new buyer.
Greenspun said the backers of News + Media Capital Group LLC, which made the purchase, hadn’t revealed themselves to him, even though the Sun is published and distributed under a joint operating agreement with the R-J. The Sun receives a portion of the R-J’s revenue under the agreement, which is regulated by the U.S. Department of Justice.
Greenspun said he has a good idea of the new owner’s identity.
New Media Investment Group, which paid $102 million for the holdings of the R-J’s parent company, Stephens Media, in March, will continue to run the organization’s day-to-day operations. It is a publicly traded company, which netted $37.5 million in accepting News + Media’s offer of $140 million.
