Patrick Soon-Shiong and his family have sold the San Diego Union-Tribune to competing publisher MediaNews Group, slimming down the family’s holdings to just one news organization — the Los Angeles Times. “This valued acquisition enables MediaNews Group to advance its stewardship in California as the largest provider of news and information across the state as we continue our commitment to …
Hedge fund Alden Global Capital closed its deal for Tribune on Monday. That ended a hard-fought struggle by Tribune’s journalists to find alternative local buyers out of fear that Alden ownership would hollow out their papers and prompt more newsroom layoffs. “Tribune had no debt and could invest cash flow in improvements,” said Rick Edmonds, Poynter’s media analyst. “That goes …
