Wednesday, 12 June 2013

Brett Abrams : 516-841-1105 :

Community Groups Mobilize at Pension Fund Meetings Nationwide Urging Funds to Oppose the Sale of Tribune Co. Papers to the Koch Brothers

CALIFORNIA - In the latest step to “Save the News” and stop the sale of the Tribune Company’s papers to the Koch Brothers, community groups from around the country are mobilizing at public pension fund meetings nationwide, urging the groups to submit public comments resolutions to their investment managers calling on them not to sell the papers, including the Los Angeles Times, to the Koch Brothers. 

In Los Angeles, members of CourageCampaign. org, Common Cause, SEIU, The Newspaper Guild (CWA - Communication Workers of America) and other groups will be attending the Los Angeles County Employee Retirement Association board meeting, where a public comment on the issue is the first thing on the agenda:

WHAT:  LACERA - Los Angeles County Employee Retirement Association Board Meeting
WHEN:  Wednesday, June 12th.  9:00am LOCAL TIME
WHERE:  300 N. Lake, Pasadena, CA

The community groups are specifically asking that pension funds, (1) communicate concern to their investment managers regarding the long-term implications of a sale of the LA Times and other papers to the Koch Brothers; (2) recognize that a good return on the funds investment does not depend on a quick sale to the Koch Brothers, and that (3) these funds not act as “passive” investors. At the meetings, community leaders will present a list of top ten reasons not to sell the Tribune Company’s papers to the Koch Brothers.

The investment funds, specifically, Oaktree Capital  (23.5%), Angelo Gordon (9.4%) and  JPMorgan Chase (9.1%) are key owners of the Tribune Company. 

Additional actions will be held across the country this summer at pension fund meetings in San Francisco (CA), Madison (WI), Hartford (CT), Albany (NY), Springfield (IL), Providence (RI), Boston (MA), Tigard (OR), Tallahassee (FL) and Olympia (WA). 

For a full list of events and information, or for interviews, please contact Brett Abrams at 516-841-1105 or by email at

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