Toll Road Giant Buys Newspapers to Silence Critics

theNewspaper.com ^ | January 26, 2007 | theNewspaper.com

[Tolerance Sucks Rocks]

Critics charge that the Macquarie purchase of American Consolidated Media is designed to silence critics of a Texas toll road project.

Australian toll road giant Macquarie agreed Wednesday to purchase forty local newspapers, primarily in Texas and Oklahoma, for $80 million. Macquarie Bank is Australia's largest capital raising firm and has invested billions in purchasing roads in the US, Canada and UK. Most recently the company joined with Cintra Concesiones of Spain in a controversial 75-year lease of the 157-mile Indiana Toll Road.

Sal Costello, the leading opponent of toll road projects as head of the Texas Toll Party, says the move is directly related to a 4000-mile toll road project known as the Trans-Texas Corridor. It will cost between $145 and $183 billion to construct the road, expected to be up to 1200 feet wide, requiring the acquisition of 9000 square miles of land in the areas through which it will pass.

"The newspapers are the main communication tool for many of the rural Texan communities, with many citizens at risk of losing their homes and farms through eminent domain," Costello wrote.

Many of the small papers purchased, most have a circulation of 5000 or less, have been critical of the Trans-Texas Corridor. An article in the Bonham Journal for example, states, "The toll roads will be under control of foreign investors, which more than frustrates Texans."

[JSDude1]

Another example of Public Domain abuse, the Corporations profit, while landowners are left out to dry!

I hate globalism too, not just that but the push against US Sovereignty sickens me! The people that aprove this should be ashamed!

[biff]

"Boy howdy Mabel, those Aussies shore dooo wuant tue buy a big ole chunk of Texas now don't they??"

[deport]

Wednesday, January 24, 2007

Dallas-based American Consolidated Media acquired by Australian firm

By Pegasus News wire

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Jeremy Halbreich

DALLAS — Macquarie Media Group (MMG) announced today that it has entered into an agreement to acquire 100% of American Consolidated Media, Inc. and 100% of Valley Newspaper Holdings, LP (collectively, ACM), a Dallas-based publisher of 40 local newspapers which serve nine regional communities in Texas and Oklahoma. The acquisition has an Enterprise value of $80 million (US) and is subject to regulatory approval and other customary closing conditions.

MMG Managing Director Alex Harvey said "ACM is a very attractive investment for MMG as it meets our key investment criteria. It provides essential local news and information to the communities in which it operates, some of which are among the fastest growing regions of the US, has strong positions and long established histories in those communities and generates stable cash flows from a large diverse base of local advertisers."

Of ACM's 40 local publications, five are daily newspapers, 19 are weeklies and 16 are "shopper" publications and associated websites.

"ACM founder and Chief Executive Officer Jeremy Halbreich has over thirty years experience managing newspaper businesses, including 12 years as president and/or general manager of the Dallas Morning News," Harvey said.

"The entire ACM management team eagerly looks forward to our new affiliation with MMG as we execute continued growth and expansion of our local community newspaper platform," Jeremy Halbreich said.

One of ACM's clusters of papers is just south of the Dallas / Fort Worth Area. ACM is the company that launched the free tabloid AM Journal Express in 2003.

Source: MMG / staff reports

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[RushingWater]

Still haven't seen one thing to support in any of this...

Obviously, you must not drive much on I-35. Something needs to be done - hopefully if this is indeed the way it goes the state of Texas will negotiate smartly . . .

[RushingWater]

Anybody know who this Macquarie is? Looks like his name gets around down under - way down under.

[Publius6961]

Toll Road Giant Buys Newspapers to Silence Critics

Help me out here...
How does buying a newspaper "silence" critics?

Critics aren't allowed to buy or create newspapers?
Maybe crtics feel (wrongly) Constitutionally empowered with the "right" to disseminate their rantings for free?

Either way, I don't buy the headline.

[Publius6961]

You mean the jobs created in order to build new roads or the few low paying service type jobs at the hotels and fast food restaruants along the way where none exist today?

There.
Fixed it for you.

[JSDude1]

What's your point: I wouldn't want EMINEMT DOMAIN grabbin' my land, would you (like them taking yours)?

[Sir_Ed]

It means that all the columnists who were against this will be fired and the editorial stances will now be in favor of this theft.

I saw the same thing here in Oregon. Our local paper was bought by a big media consortium and the editorials that were all conservative are now pro-abortion, anti-gun, Molly Ivins sort of raving Leftist bilge, even though the county is conservative.

Ed

[hedgetrimmer]

Yes, we can keep a free country when a foreign country corporation buys up all our media then prohibits citizens from expressing any opinions through it. /sarc

The beauty of "free trade" is fully expressed here. Loss of sovereignty, loss of control by citizens of their own country.

[hedgetrimmer]

Our local paper was bought by a big media consortium

This is the death knell of our culture of freedom.

[biff]

Hello? Knock, knock!! Without coming straight out and saying it, it seems like everybody and their brother wants a piece of Texas and this idiotic tollway action. And guess who gets screwed? Texas and the Texas taxpayers, that's who.

[Alamo-Girl]

Thanks for the ping!

[B4Ranch]

Yeah, the service jobs where the employee qualifies for food stamps because all the jobs are part time. You know the type of folks who don't pay any taxes at all.

[hedgetrimmer]

Without coming straight out and saying it, it seems like everybody>internationalists and their brother

Let's clarify.

[hedgetrimmer]

How does buying a newspaper "silence" critics?

The village idiot needs help?

[hedgetrimmer]

"The newspapers are the main communication tool for many of the rural Texan communities,

So it's REALLY important for an Australian to run them and to present only the views that support Australians.

[conservatism_IS_compassion]

How does buying a newspaper "silence" critics?

The village idiot needs help?

Do you own a newspaper?

If not, by your logic you - and practically everyone else - are "silenced."

The dirty little secret of McCain-Feingold is that it promotes Big Journalism, which is the establishment in America if there is such a thing. It's not like there weren't any money involved in the journalism business . . .

[hedgetrimmer]

I don't know where you're from, but I have seen newspapers across the board censor conservative views in their editorial sections, and refuse to allow conservatives to purchase space to publish conservative views.

Don't buy the idiocy that foreign ownership of our media is not a problem.

[stevie_d_64]

Good one...

But those are jobs that Americans won't do...So "who" will be emboldened, encouraged to get those jobs you think???

Its a vicious circle I know, but a viewpoint that I think should be presented...