U-T San Diego sale completed
(CNS) — The $85 million sale of the U-T San Diego newspaper to Tribune Publishing was completed Thursday, the companies announced.
Tribune will assume the San Diego daily’s pension debt and also takes over nine community publications as part of the transaction. The nine include the Poway News Chieftain and Rancho Bernardo News Journal.
The company said it will restore the 146-year-old daily newspaper’s former name -- the San Diego Union-Tribune.
A regional operating organization called the California News Group will oversee both the San Diego newspaper and the Los Angeles Times, Tribune’s other major holding in Southern California.
Austin Beutner, the Times’ publisher and CEO, said CNG would run both newspapers as separate brands with different newsrooms. He’ll serve as publisher and chief executive for both papers, as well as the California News Group.
Tribune purchased the newspaper from developer Doug Manchester, who acquired it four years ago. He later purchased the North County Times and the community weeklies.
At a time when local news is more important than ever, support from our readers is essential. If you are able to, please support the Pomerado News today.
