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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,...
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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.
Billionaire media proprietor Patrick Soon-Shiong has sold the San Diego Union-Tribune (U-T) to competing local newspaper company MediaNews Group for an undisclosed amount. MediaNews Group’s announcement: The sale, which was reportedly finalized on Monday, was lauded by the MediaNews Group as an opportunity to “advance its stewardship in California as the largest provider of news and information across the state,” according to Sharon Ryan, executive vice president for California for MediaNews Group.
Alden is the parent company of MediaNews Group, which runs Southern California newspapers including the Orange County Register, Los Angeles Daily News and Riverside Press-Enterprise.