Billionaire casino mogul Sheldon Adelson is the new owner of Nevada’s largest daily newspaper, the Las Vegas Review Journal confirmed.
Adelson’s son-in-law Patrick Dumont reportedly arranged the $140 million deal to purchase the Review Journal at Adelson’s request, the newspaper reported late Wednesday, citing unnamed sources close to the Adelson family. The newspaper was purchased last week by News + Media Capital Group LLC, which is backed by “undisclosed financial backers with expertise in the media industry,” the newspaper reported.
Adelson on Tuesday told CNN that he had “no personal interest” in the newspaper.
A major donor to Republican candidates, Adelson spent at least $100 million in the 2012 presidential election. Tuesday night’s GOP presidential debate was held at his Las Vegas casino. Adelson is also the owner of the pro-Netanyahu Hebrew-language daily newspaper Israel Hayom, which is distributed widely for free in Israel.
Fortune first reported that Adelson was the newspaper’s primary buyer on Wednesday afternoon, citing “multiple sources familiar with the situation.” Adelson had made an attempt earlier this year to purchase the newspaper.
Adelson has not officially acknowledged the purchase.
