Koch Industries is reported to be exploring a bid to buy the Tribune Company’s eight regional newspapers, including The Los Angeles Times, The Chicago Tribune, The Baltimore Sun, The Orlando Sentinel and The Hartford Courant. There is also a possibility of buying Hoy, the second-largest Spanish-language daily newspaper in the United States.
The Tribune Company emerged from bankruptcy on 31 Dec. and its newspapers are valued at roughly $623 million. The interest in newspapers is part of a three-pronged plan to persuade Americans that a small government is best, according to The New York Times.
Charles and David Koch both run Koch Industries, one of the largest privately owned companies in the U.S. The energy and manufacturing conglomerate based in Wichita, Kansas, has an annual revenue of about $115 billion. The brothers, known as being politically libertarian, have advocated for decreasing the size of the government and loosening restrictions on taxes and regulation.