California Times has sold The San Diego Union-Tribune and affiliated properties to investment firm Alden Global Capital, an affiliate of MediaNews Group, the newspaper reports. Terms were not disclosed.
California Times has published The Union-Tribune, Los Angeles Times and their related weeklies since their acquisition by Dr. Patrick Soon-Shiong in 2018.
“I’m grateful to the Soon-Shiong family, who were good owners,” U-T Editor and Publisher Jeff Light said. “Now it’s time to start another chapter. As our staff knows, this isn’t an easy business, but I have a lot of confidence in the future of the Union-Tribune.”
Back story: The Copley family had owned the company since 1868 1928 and sold it in 2009 to Platinum Equity. Subsequent sales were to:
- MLIM Holdings, 2011;
- U-T San Diego, 2012;
- Tribune Publishing, 2015; and
- Soon-Shiong 2018.
Alden’s holdings constitute the second-largest newspaper publisher in the country, next to Gannett. The Union-Tribune and its weeklies join these Southern California News Group companies as part of MediaNews: Orange County Register, Los Angeles Daily News, Riverside Press-Enterprise, Daily Breeze, Long Beach Press-Telegram, San Gabriel Valley Tribune, Pasadena Star-News, Whittier Daily News, San Bernardino Sun, Inland Valley Daily Bulletin and Redlands Daily Facts.
7/13: Corrects year of Copley ownership.
