Rupert Murdoch Buys $200 Million Montana Ranch From the Koch Family

 

Media mogul Rupert Murdoch and his wife, Jerry Murdoch, have purchased a Montana cattle ranch spanning about 340,000 acres from Matador Cattle Co., a subsidiary of Koch Industries. The price was roughly $200 million, making it the largest ranch sale in Montana history, according to people with knowledge of the deal.

Known as Beaverhead Ranch, the property is located in southwest Montana near Yellowstone National Park. It was originally purchased more than seven decades ago by Fred Koch, who founded the crude-oil-gathering business that grew into Koch Industries, according to Matador’s website. Koch Industries is now led by one of his sons, Charles Koch, who, with his late brother, David Koch, is known for backing Republican politicians and conservative causes. Koch Industries didn’t respond to requests for comment. 

Earlier this year, Climbing Arrow Ranch, a roughly 80,000-acre ranch near Bozeman, Mont., went into contract for around $136.25 million, the Journal reported. 

In recent months, Koch Industries has been selling off swaths of land in the West.

n March, it sold Spring Creek Ranch, a roughly 11,000-acre ranch in Kansas, according to listing agent John Wildin of Hall and Hall. He declined to disclose the purchase price. The property was listed for around $23.2 million last year. 

In Texas, Matador Ranch was listed several months ago for $124.45 million, according to a listing from Sam Middleton of Chas. S. Middleton and Son. “The next generation doesn’t have much interest in the place,” he said of the family’s decision to sell...MORE