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BUSINESS
September 9, 2013 | Bloomberg News
Molex Inc., a maker of electronic components for Apple Inc.'s iPhone and other products, agreed to a $7.2-billion acquisition by Koch Industries Inc., the holding company controlled by the billionaire Koch brothers. Koch will buy Molex's shares for $38.50 apiece, a 31% premium over the publicly traded common stock, the companies said Monday. Koch, a closely held company that owns things as varied as biofuel, fertilizer makers and commodity-trading services, is using the acquisition to expand into connector components.
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BUSINESS
September 9, 2013 | By Amy Hubbard
C. James Koch, the man behind Sam Adams beer, is a newly minted billionaire, and he owes it all to craft beer. Or, perhaps craft beer owes it all to Koch. Koch, a Harvard grad with multiple acronyms (BA, MBA, JD), wanted to make beer. It was a family thing. As the Sam Adams site says, he brewed his great-great-grandfather's recipe in his kitchen in 1984. Then he brewed his beer in batches and carried bottles bar to bar. A year later, Koch's Boston Beer Co. created Samuel Adams. Six weeks later, it won a "Best Beer in America" consumer poll.
NATIONAL
June 18, 2013 | By Tina Susman
NEW YORK -- It's widely known that former New York Mayor Ed Koch planned every detail of his funeral and burial, and for good reason. The one thing he couldn't oversee -- the final etchings on his tombstone -- is wrong. If he were alive to see it, Koch might laugh at the mistake. After all, it shaved 18 years off the age of the 88-year-old Koch, who died of congestive heart failure in February.   The tombstone at Koch's grave in the Washington Heights section of Manhattan lists the three-term mayor's birthdate as Dec. 12, 1942, instead of Dec. 12, 1924, a mistake first reported Monday by NBC News in New York .  "You could call it a grave mistake," the news anchor said in introducing the segment.
ENTERTAINMENT
June 13, 2013 | By Joe Flint
The Koch brothers are firing back at former Federal Communications Commission Chairman Reed Hundt, who last week made a speech at UCLA in which he said he couldn't “imagine anything good from the Koch family owning the Los Angeles Times. " A statement posted on KochFacts.com written by Mark Holden, Koch Industries' general counsel, said Hundt was being hypocritical. In his remarks, Hundt advocated removing federal regulations that would prevent Rupert Murdoch 's News Corp.
ENTERTAINMENT
June 6, 2013 | By Joe Flint
A former chairman of the Federal Communications Commission said rules limiting common ownership of newspapers and television stations in the same market should be gutted -- even if it clears the way for media mogul Rupert Murdoch to control more news outlets including the Los Angeles Times. Reed Hundt, Democratic chairman of the FCC during much of the Clinton administration and a self-confessed progressive, said in a speech Wednesday at UCLA that the long-standing rule is "perverse" and needs to be thrown out. Noting the growth of new platforms for news and other content since the rule was created in the 1970s and the difficult economics of the newspaper industry, Hundt said "if a TV station wants to help a newspaper survive, the FCC should welcome that initiative.
BUSINESS
May 29, 2013 | by Walter Hamilton
About 200 protesters rallied Wednesday outside the headquarters of the Los Angeles Times to protest a potential sale of the newspaper to the politically conservative Koch brothers. The rally was one of a dozen nationwide at media properties owned by Tribune Co., which is considering selling The Times and seven other daily newspapers after emerging from bankruptcy late last year. Activists are seeking to pressure Tribune not to sell the papers to Charles and David Koch , billionaire siblings who fund a range of conservative causes.
BUSINESS
May 23, 2013 | By Meg James
About 100 activists rallied in Beverly Hills on Thursday evening to protest a potential sale of the Los Angeles Times and other Tribune Co. newspapers to the politically conservative Koch brothers. Part of the group -- a collection of environmentalists, union activists, retirees, Times subscribers and a Jewish rabbi -- took their effort on a more than half-mile march to the home of Tribune Chairman Bruce Karsh. Karsh is president and co-founder of Oaktree Capital Management, a Los Angeles investment firm that is the single largest Tribune owner with nearly 23% of the stock.
BUSINESS
May 15, 2013 | By Walter Hamilton, Los Angeles Times
About 300 labor union members and other activists staged a demonstration to protest the potential sale of the Los Angeles Times to the politically conservative Koch brothers. Demonstrators marched outside the downtown L.A. headquarters of Oaktree Capital Management, an investment firm that holds a roughly 20% stake in Tribune Co., which owns The Times. Protesters alleged that Charles and David Koch, billionaire siblings who fund conservative causes, want to buy The Times in order to skew the paper's coverage to favor anti-union objectives.
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