SAN DIEGO—The Los Angeles Times has sold The San Diego Union-Tribune to an affiliate of MediaNews Group, according to a memo sent to staff on July 10.
The letter from L.A. Times president Chris Argentieri states the transaction was completed as of Monday afternoon for Alden Global Capital’s MediaNews Group to purchase San Diego’s long-running newspaper.
“We hope that this change now will position both the Los Angeles Times and San Diego Union-Tribune to succeed,” the memo states.
L.A. Times owner Patrick Soon-Shiong was quoted in the letter saying, “The Union-Tribune is a great news organization with a long, distinguished history that I hope will continue to serve the San Diego community for generations to come.”…