The ultra-conservative billionaire brothers Charles and David Koch will not purchase the Tribune Company newspapers, a Koch Industries spokeswoman confirmed with Politico Thursday.
As Progress Illinois has reported, rumors first surfaced that the brothers were interested in acquiring the company's eight regional papers in March via a report in La Weekly. The brothers, however, had been mum about the rumor, which had outraged many Chicago activists and others across the country.
Last December, the Tribune Company announced that it planned to sell its papers, including the Chicago Tribune, the Baltimore Sun, the Los Angeles Times and the Orlando Sentinel.
The Daily Caller first reported the news Thursday that Koch Industries would reportedly not consider a bid for the Tribune newspapers because the investment is not "economically viable."
In an email to Politico, Koch Industries spokeswoman Melissa Cohlmia wrote,
"Koch continues to have an interest in the media business and we’re
exploring a broad range of opportunities where we think we can add
value. In terms of the Tribune, the Daily Caller story is accurate."