Freedom's Watch Disbanding?

by: James L.

Mon Nov 24, 2008 at 3:53 PM EST

Freedom's Watch, the conservative group backed by Las Vegas Sands Corp. Chairman Sheldon Adelson, is pretty much kaput, sources with knowledge of the organization said.

The group's dozens of staffers have been paid through the end of the year. After that, Freedom's Watch is likely to shut its doors permanently, said the sources, who spoke on condition of anonymity.

Technically an issue-advocacy group rather than a political campaign arm, Washington-based Freedom's Watch spent $30 million on television and radio ads in the general election, plus an undisclosed amount on mail and phone-call campaigns.

It was active in four U.S. Senate races and about three dozen congressional races, said spokesman Ed Patru, though he declined to say how the group's favored candidates did on Nov. 4.

A spokesman for the Crotch confirms that the org will be "downsizing", but adds that the group's board has yet to make any decisions about its future. With billionaire casino magnate Adelson hitting some hard financial times lately (dropping from #3 all the way down to 15 on the Forbes list of America's wealthiest people -- poor guy), perhaps he'll decide not to waste his money propping up congressional Republicans in future cycles.

(H/T: Politico)