Local Newspaper Sold
Tribune Publishing, owner of the Los Angeles Times and Chicago Tribune newspaper, has agreed to purchase San Diego’s largest newspaper for $85 million in cash and stock, giving the company a great position over the publishing business in California’s two largest cities.
The Union Tribune will return to its longtime name, the San Diego Union-Tribune. The paper will be led on a day-to-day basis by Russ Newton, the new president and chief operating officer.
As part of the deal, Chicago-based Tribune Publishing created the California News Group, to oversee operations of the Los Angeles Times Media Group and the U-T. Times Publisher Austin Beutner has been named publisher of the U-T and will also serve as chief executive of the news group.