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NEWSMAX - help me out here, who funds this/is behind this?

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CaptainMidnight Donating Member (611 posts) Send PM | Profile | Ignore Fri Sep-19-03 05:08 PM
Original message
NEWSMAX - help me out here, who funds this/is behind this?
Trying to hold my argument against this news site with a Repub friend.

I mean, I didn't think I could find a more unfair, biased, slanted new source than FOX or Drudge until I found Newsmax.

I'm sure there's gotta be a story behind the backers of this and their agende, ie, a Richard Mellon Schaife type or something?

Info anyone?

Captain Mike
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WilliamPitt Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-19-03 05:09 PM
Response to Original message
1. It is in fact Scaife
Chris Ruddy, the guy who runs the site, worked for the Pittsburg fishwrapper Scaife started. It's his baby.
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CaptainMidnight Donating Member (611 posts) Send PM | Profile | Ignore Sat Sep-20-03 04:00 AM
Response to Reply #1
7. thanx Will
Fast, and nice catch.

Freddy Lynn, crashing the Green Monster!

Captain Mike
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ComerPerro Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-19-03 05:16 PM
Response to Original message
2. You must have the word "Clark" in your subject line
Sorry. So close.

But anyway, I don't know who backs, sponsors, or writes this garbage. But if you want to make the case that newsmax is not credible, why not just show your friend their top "headlines":

Even Jesse Jackson's Crowd Taunts 'Terrible' Davis

Schwarzenegger: McClintock a Pawn of Pro-Bustamante Indians

How ACLU's Lawsuit to Stop the Recall Is Bogus

California Has 'People From Every Planet,' Davis Brags

Church-State Watchdog Asks IRS to Probe Clinton-Davis Rally

Do you support Arnold for Governor? Click Here




Clinton Overshadows Wesley Clark
-One theory: The retired general is the last hope for establishment Democrats who fear that President Bush would crush Howard Dean.

-Hillary Spins Web of '04 Riddles
-Clark: I'm Running Because the Clintons Told Me To
-Dean Speechless as Clintons Hijack Campaign
-Clark Admits He Probably Would've Voted for the War


Texas Democrats Play the Race Card
-Wimpy Republicans try to make nice and once again get slapped.


Real Story on Bush's Approval Ratings
Get NewsMax's Insider Report FREE! In the latest edition you'll also find out:
-Teddy Kennedy vs. Poor Black Children
-Britain Warns of Attacks by al-Qaeda
-New York Times Can't Spell 'Ashcroft'
-Arnold Schwarzenegger
-Harry Wu Visits NewsMax Lunch
-Bill O'Reilly's New Book


None of what I have posted is from their "commentary" section, which is even more biased and conservative than their "headlines".

The point is, these things they call news stories and front page headlines are just op-ed pieces. Newsmax is garbage.

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CaptainMidnight Donating Member (611 posts) Send PM | Profile | Ignore Fri Sep-19-03 05:37 PM
Response to Reply #2
3. weren't they behind that Clinton Book
?

There was some Clinton book a while back they were hawking that showed a bleary-eyed, doughy, pasty Bill Clinton on the cover, calleds something like, "How Clinton Let bin Laden get Away," I think. It also juxtapositioned a picture of the Towers burning, right next to Bill.

Did they also publish this?

Captain Mike
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ComerPerro Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-19-03 05:41 PM
Response to Reply #3
4. Well, depends which Clinton book
There have been tons of books about how Clinton decided not to capture bin Laden, decided not to do anything about terrorism, and downright helped terrorists plan the WTC attack. Of course, none of them have any valid sources or citations. If anything, they use each other as sources.

Rabid right-wingers are pathetic.
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grasswire Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-19-03 05:44 PM
Response to Reply #3
5. here's some info from conwebwatch
NewsMax has lost a lot of money. Nearly $11 million, in fact, since the site's launch in 1998. NewsMax lost roughly $8.4 million of that in 2000 and 2001.

The majority of NewsMax's revenue in 2001 came from product sales -- 52.8 percent, compared to 19.5 percent in 2000. That jump mirrored a huge drop in advertising revenue, from 42.3 percent of total revenue in 2000 to 15.9 percent in 2001.

Richard Mellon Scaife has a stake in NewsMax. According to the prospectus, Scaife owns about 7.2 percent of NewsMax Media, expected to drop to 5.8 percent after the IPO. That's not exactly surprising, given that CEO Christopher Ruddy used to work for Scaife at his newspaper near Pittsburgh. Scaife's official stake -- and you have to wonder, given Scaife's reputation as the moneybag behind a lot of hardline conservatives, if he didn't kick in even more than his official share of the company indicates -- makes him NewsMax's third largest shareholder. At the top is Ruddy, with 32.6 percent (27.1 percent after the IPO), followed by Michael Ruff (with 25 percent, or 20.3 percent after the IPO), described in the prospectus as a former real estate developer in Dallas and current president of Icarus Investments, a venture capital firm. There are a total of 190 stockholders of record.

All totaled, Ruddy and the company's directors -- who also include Arnaud de Borchgrave, late of the Washington Times; former Navy admiral Thomas Moorer; and Lord William Rees-Moog, a former editor and current columnist for the Times of London -- control about 64 percent of NewsMax Media through stock ownership and stock options, which would drop to 53.5 percent after the IPO. Interestingly, Scaife is not listed as a company director, but his stock is counted with the rest of the other named directors.

Christopher Ruddy is doing pretty well for running a company that has lost $11 million. According to the prospectus, Ruddy made about $97,000 plus stock options in 2001. The previous year he made $65,000 with a $30,000 bonus. (In 1999, he's listed as making no salary but a $10,000 bonus and a million-plus shares of stock and stock options.) So that's how he can afford to be seen in swank New York eateries. Ruddy's salary for 2002 is described thusly: "Mr. Ruddy's annual base salary ... is $125,000, which was reduced to $25,000 effective February 2002, but will be restored to $125,000 upon the closing of this offering."

NewsMax hasn't exactly been, uh, honest about some of these numbers. Ruddy once claimed NewsMax became profitable in November 2000; please refer to the earlier paragraph for proof otherwise. NewsMax also claimed in January that the paid circulation of its magazine was 240,000, and in a recent e-mail to readers, claimed "more than 300,000 paid readers ... We have just surpassed almost every conservative publication in America." But according to the prospectus (filed in March, if you'll recall), the paid circulation is listed as "approximately 59,395." Perhaps NewsMax understands that while you can get away with lying to magazine reporters and your own readers, it's generally a bad idea to lie to the government.

http://conwebwatch.tripod.com/stories/2002/nmstock.html
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grasswire Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-19-03 05:45 PM
Response to Reply #3
6. Losing bin Laden?
That's a recent book. Not published by newsmax, although they hawk it.
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