Sheldon Adelson Buys Las Vegas Review-Journal

Adelson AssCasino industry legend Sheldon Adelson confirmed Thursday that he is the new owner of the Las Vegas Review-Journal, ending a bizarre week of confusion and speculation as to who had just acquired Nevada’s largest newspaper.

“We understand the desire of the hard-working staff at the R-J and others in the community to know the identity of the paper’s new owners, and it was always our intention to publicly announce our ownership,” said a statement by the Adelson family published in the Review-Journal, whose reporters had been working frantically to determine who their new boss is.

In a strange move that triggered the ire of the paper’s staffers and an avalanche of criticism from media ethicists, Adelson’s newly incorporated company, News + Media Capital Group, bought the paper for $140 million last week and chose to keep the company’s ownership unidentified.

The only name that appears in the filing papers — Michael Schroeder, CEO of Central CT Communications and a manager of the new company — repeatedly declined to comment on the purchase or who’s backing the deal.

More at USA Today

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