LOS ANGELES (AP) — The owner of the Los Angeles Times has sold sister paper The San Diego Union-Tribune to MediaNews Group, which owns hundreds of papers around the country, the paper announced Monday. The decision comes after the LA Times announced last month that it was cutting 74 jobs — 13% of its newsroom positions — to deal with financial difficulties. The LA 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. “We hope that this change now will position both the L.A. Times and San Diego Union-Tribune to succeed,” he wrote.

Source: Los Angeles Times July 11, 2023 01:07 UTC