Thread: Toll Road Giant Buys Newspapers to Silence Critics

Toll Road Giant Buys Newspapers to Silence Critics
Critics charge that the Macquarie purchase of American Consolidated Media is designed to silence critics of a Texas toll road project.

Trans Texas CorridorAustralian 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."

http://www.thenewspaper.com/news/15/1570.asp

See also http://www.alipac.us/modules.php?name=F ... ic&t=52612

It looks like we've got a whole lot of corruption going on here.

Un-freakin-real! Can you say, "robber baron"?

I guess 80 million for the papers is chump change to protect a 183 billion dollar investment. Seems odd we are so worried about drilling in Anwar but no one seems to care about a swath four football fields wide dividing our state and it's effect on the people and the environment. Where is the Sierra club?

ANDY
the sierra club is a FARCE. They're directly linked to open borders and the global dream.

Their money comes from these giant, egomaniacal thieves. Why would they give a flying fig?

I just sent Rep. Ted Poe of Texas this article with my comments of disgust. This is definately dirty pool!!

America should not be sellilng our public roads and land to foreigners!

Freedom of the press belongs to whoever owns the press. This is absurd! Perhaps we can get our Texas & Oklahoma folks to start a newspaper in the areas where this is going on.

They should all dump their subscriptions in protest!!

Toll Road Conglomerate Does an "End-Around" to Silence Nagging Texas Newspapers by Purchasing Newspaper Group
taken with permission to reprint here from the online site of http://www.austintollparty.com/ , founder is Sal Costello

Toll Road Conglomerate Silences Nagging Texas Newspapers by Purchasing Newspaper Group.

The Sydney Morning Herald reports Macquarie Media Group Ltd., a subsidiary of Macquarie Bank and Cintra-Macquarie partner, has swallowed American Consolidated Media (ACM) for nearly $100 million.

The purchase allows one of the largest toll road operators in the world to control some of it’s industries most outspoken critics inTexas, dozens of rural independent Texas newspapers.

The deal could help to clear a political path for potential Texas contracts worth Billions.

The purchase comes after the ACM’s rural independent newspapers have clearly been the most vocal opposition to the Trans Texas Corridor (TTC).

Countless articles over the past months and years peg the TTC as an eminent domain land grab. ACM’s publications had placed serious political pressure on the TTC, therefore future TTC contracts worth an estimated $185 Billion dollars.



Editorial independence

is being bought out.



The newspapers are the main communication tool for many of the rural Texan communities, with many citizens at risk of loosing their homes and farms through eminent domain. Future TTC contracts are estimated to effect about one-half million acres of land, and 4,000 miles of Texas toll roads.

Founded in 1998, American Consolidated Media is a privately owned media holding company. Based in Dallas, Texas, the company owns and operates about 40 newspapers, primarily in the small-to-medium markets of Texas.

Texas newspapers under the ACM umbrella include: Waxahachie Daily Light, The Hearne Democrat, Calvert Tribune, Alvarado Post, Bonham Journal, Ellis County Chronicle, Ennis Journal, Stephenville Empire Tribune, Midlothian Mirror, and the Franklin Advocate.

Macquarie is currently poised to buy more newspaper groups. From the Sydney Morning Herald report:

“The Macquarie Bank-backed fund, which already has broadcast assets, is "in a number of discussions" with other US newspaper businesses, including some exclusive negotiations, but declined to offer more details.”
This is Macquarie's first print media purchase and first move into the U.S. media market.

Macquarie Bank is the parent of Macquarie Infrastructure, one of the largest toll road operators in the world. Macquarie Infrastructure last year partnered with Cintra (Cintra-Macquarie) in a $3.85 Billion dollar toll road deal in Indiana.

D.J. Gribbin, a director for Macquarie, has just been nominated by President Bush to be General Counsel for the U.S. Department of Transportation and is awaiting senate confirmation.

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UPDATE: Selling agent Halyard Capital finally returned my phone call from yesterday and stated that this deal is "subject to HSR", and would not elaborate. The FTC has an HSR approval process.

http://pstern.statesmanblogs.com/entry. ... c3009c8c0c

Folks, it looks like we should immediately launch a phone, letter and email campaign to the FTC!!!

ABSOLUTELY, CROCKET!

Would you post a quick sample note to help those who might be in a pinch?

Anyone who wants to add their notes, please post away.

Let everyone who stops by ALIPAC see what's going on to suppress FREE AMERICAN SPEECH.