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. The message included words from owner Patrick Soon-Shiong, who purchased both the Times and Union-Tribune from Tribune Publishing in 2018. We hope that this change now will position both the L.A. Times and San Diego Union-Tribune to succeed. The acquisition by the paired N.Y. investment firm and Denver-based media company take San Diego Union-Tribune out from local ownership. The sale of the San Diego Union-Tribune comes only weeks after the Los Angeles Times laid off 13% of its newsroom — a decision prompted by declining ad revenue and readership.

Source: Los Angeles Times July 11, 2023 02:19 UTC