Thursday's sale of the Las Vegas Review-Journal left staffers, and readers, with a lot of questions.
Perhaps foremost among them: Who now owns Nevada's largest newspaper.The Huffington Post points out:
Answers remain unclear....MORE
...Another curious aspect of the sale was that the news owners paid significantly more for the Review-Journal than the previous owners just seven months ago. In March, New Media Investment Group bought the Review-Journal's parent company, Stephens Media LLC, for $102.5 million, a deal that included eight daily papers and 65 weekly papers spread across the country. On Friday night, the Review-Journal reported that the new owners paid $140 million for the Review-Journal and several smaller Nevada papers.
"The amount points to investors with deep pockets and a perhaps even deeper desire to own Nevada's biggest newspaper even though the paper's revenues, like those of all print publications, have been in decline," wrote the Review-Journal's James DeHaven.