Wednesday, March 18, 2009

San Diego Union-Tribune Sold to Platinum Equity

The parent company of The San Diego Union-Tribune announced Wednesday that it has reached an agreement to sell the newspaper to the Beverly Hills private equity firm Platinum Equity for an undisclosed price.

La Jolla-based The Copley Press Inc. had been seeking a buyer since July 2008, when it hired investment bankers to explore “strategic options” amid a nationwide decline in newspaper advertising and circulation.

The firm said in a statement that its team includes David H. Black, whose company Black Press owns dozens of community newspapers, mostly in western Canada, and has expanded its U.S. presence with acquisitions of the Honolulu Star-Bulletin in 2000 and the Akron (Ohio) Beacon Journal in 2006. [Click for MORE]


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