The San Diego Union-Tribune has been acquired by an affiliate of Alden Global Capital’s MediaNews Group in a sale by the Los Angeles Times.
Chris Argentieri, president and chief operating officer of the L.A. Times, confirmed the sale in a statement distributed to staff members and obtained byon Monday. The message included words from owner Patrick Soon-Shiong, who purchased both the Times and Union-Tribune from Tribune Publishing in 2018.
“The Union-Tribune is a great news organization with a long, distinguished history that I hope will continue to serve the San Diego community for generations to come,” said Soon-Shiong. “Our intention now is to focus on the ongoing work of transforming the L.A. Times into a self-sustaining institution. Our hometown of Los Angeles and the state of California – really, the West Coast – needs a strong, independent news organization. We believe in the L.A. Times and are committed to its future.
Founded in 1868, the Union-Tribune has been a San Diego staple for several decades. It has been acquired seven times through its history, with a series of deals coming in more rapid succession in recent years: Platinum Equity in 2009, followed by MLIM Holdings in 2011, U-T San Diego in 2012, Tribune Publishing Company in 2015, Soon-Shiong in 2018 and now by a company owned by Alden Global Capital and MediaNews Group. The acquisition by the paired N.Y.
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