The decision comes after the L.A. Times announced last month that it was cutting 74 jobs — 13% of its newsroom positions — to deal with financial difficulties. The Union-Tribune, which covers the second-largest city in California, will now be owned by the same chain that owns a slew of Southern California newspapers. The L.A. Times and Union-Tribune were purchased in 2018 by billionaire Patrick Soon-Shiong and his family for $500 million from Chicago-based Tribune Publishing. The Union-Tribune sale was completed Monday, according to a memo to staff members from the California Times president and chief executive officer, Chris Argentieri. “Our intention now is to focus on the ongoing work of transforming the L.A. Times into a self-sustaining institution,” Patrick Soon-Shiong said in a statement contained in Argentieri’s memo.

Source: Los Angeles Times July 11, 2023 10:02 UTC