Sheldon Adelson Behind Purchase of LVRJ

Fortune reported that it had been informed by multiple sources familiar with the situation that Adelson was the new owner, before the Review-Journal itself reported that sources had confirmed to the newspaper that Adelson arranged the purchase.

Adding to the speculation was the fact that, although the Review-Journal and its sister properties had been purchased for $140 million, the paper’s former parent company, national media chain Stephens Media LLC, was recently sold in February for only $102 million.

News + Media Capital Group LLC bought the Las Vegas Review-Journal and some affiliated publications for $140 million, a markup of about 37 percent from the paper’s last sale earlier this year, when the similarly named New Media Investment Group bought it. The new buyer was incorporated in September. Tuesday’s CNN-hosted Republican debate also took place at the Venetian, a Las Vegas casino-hotel that’s part of Adelson’s empire. Was it, perhaps, casino mogul and G.O.P. sugar daddy Sheldon Adelson?

Dumont is listed as a senior vice president at Las Vegas Sands Corp., of which Adelson is chairman and CEO.

Mike Reed is chief executive officer of New Media Investment Group’s subsidiary company Gatehouse Media, which will continue to run Nevada’s largest newspaper that claims a Sunday circulation of 184,000.

Adelson, who has donated more than $100 million to nearly exclusively conservative political causes, including more than $92 million alone in the 2012 presidential election to try to defeat President Barack Obama in his reelection, has not been shy about using his Isreali newspapers as a political cudgel. The paper’s editorial board on Wednesday wrote that “the lack of disclosure of the newspaper’s new ownership group compromises this publication’s ability to demand transparency of others”.

It’s not clear why the Review-Journal’s new owners wanted to maintain anonymity, but with a newsroom full of journalists (not to mention media reporters around the country) scrambling for the scoop, their identities did not stay secret long. “There are hundreds of local daily papers”, he said.

Last week a mysterious company purchased one of the most important newspapers in the gambling industry in the swing state of Nevada.

The mystery is finally solved.

The newspapers have a joint operating agreement, with the Sun delivered alongside the Review-Journal.

If Adelson really has just purchased the influential newspaper, there may be significant political and commercial implications. U.S. Sen. Harry Reid, talking Tuesday to reporters in Washington, also hinted at the casino mogul, who owns an Israeli newspaper.

Andrew Seaman with the Society of Professional Journalists says they are always happy to see people invest in news organizations.

Brian Greenspun, CEO and publisher of the rival Las Vegas Sun, said he welcomes the Adelson family to the journalism neighborhood and that any success under the new ownership would be good for them both.