Sheldon Adelson’s Terrible Political Instincts

23 Dec 2015 | Author: | No comments yet »

Adelson: I’d back GOP nominee, even if it’s Trump.

Billionaire Republican megadonor Sheldon Adelson says he will support the eventual nominee, indicating in a news conference in Macau that he has not yet made up his mind on when he will make his own decision on whom to back. LAS VEGAS — The family of billionaire casino mogul and GOP kingmaker Sheldon Adelson confirmed in a statement to the Las Vegas Review-Journal that they are the new owners of Nevada’s largest newspaper, ending a week of speculation. The statement in Thursday’s edition follows the announcement last week that the paper was sold for a second time this year to an unidentified buyer, leading to scrutiny about a lack of transparency. Adelson, who says he spent $100 million getting Republicans elected in 2012, said he might see how the contenders fare after Iowa opens the primary season Feb. 1. “The Adelson family has not made up its mind as to anybody we are going to support,” said the 82-year-old, who was attending the opening of a St.

Regis hotel by Sands China Ltd. “We may just wait until a number of the primaries already established and who’s garnering the largest number of delegates.” Adelson was speaking just two days after meeting Trump at the Venetian Hotel in Las Vegas before the Republican debate, the Washington Post reported. News + Media Capital Group LLC bought the paper and some affiliated publications for $140 million, a markup of about 37 percent from the paper’s last sale this year, when the similarly named New Media Investment Group bought it. Out of 14 candidates, 41 percent is unheard of.” For his part, Trump has played up his willingness to self-finance his campaign, chiding opponents who court big-money donors like Adelson for being “puppets.” He reportedly paid a premium, $140m, using his son-in-law and a front man to set up a limited liability corporation, which, Fortune points out, helps dodge scrutiny.

Whoever owns it, the senator told Politico, “I can say the editorial policy can’t be any worse than it has been for 10 years.” It certainly won’t be any less conservative. If Adelson were to sketch a map of his worldview, meanwhile, it might resemble the famous New Yorker cartoon of a view of the world from Manhattan, in New York City, the one in which Manhattan dwarfs everything else. But it was the Review-Journal itself that called for transparency of its ownership in its own editorial pages first of all, then fully confirmed Adelson’s role as the buyer, and then rolled out a Full Monty warts-and-all profile of him – including some reporting on his copious and somewhat embarrassing lawsuits against members of the press, often for straightforward disclosures and minor perceived slights.

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