The San Diego Union-Tribune has been acquired by the majority owner of the Southern California News Group, Alden Global Capital. The purchase, which was announced on July 10, comes at a challenging time for the newspaper industry as search and social media companies continue to dominate audience and advertising. Alden-controlled MediaNews Group, which operates the Southern California News Group, will now oversee the operations of the Union-Tribune.
Sharon Ryan, the executive vice president of California for MediaNews Group, stated, “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 ensure newspapers remain viable well into the future.”
Alden’s acquisition will expand the reach of MediaNews Group in California, adding to their portfolio of newspapers in both Northern and Southern California, including the Bay Area News Group. While specific details about the future integration between the U-T and SCNG newsrooms were not announced, it is a possibility as part of the newsgathering operations.
The memo to U-T staff announcing the deal acknowledged the need for “difficult staffing decisions” as they take over management. This is due to the financial challenges faced by the newspaper industry, particularly as Big Tech companies distribute and profit from original content, impacting revenue for newspapers like the Union-Tribune. The memo specified the goal of finding efficiencies in their business operations while prioritizing local newsgathering and maintaining journalistic excellence.
The San Diego Union-Tribune, which traces its origins back to 1868, was previously owned by Tribune Publishing before being acquired by Dr. Patrick Soon-Shiong in 2018, along with the Los Angeles Times. Recently, the Los Angeles Times announced job cuts of 13% in its newsroom. A statement from the Los Angeles Times expressed hope that this ownership change will position both the L.A. Times and the Union-Tribune for success, emphasizing their focus on transforming the L.A. Times into a self-sustaining news organization.
U-T editor and publisher Jeff Light expressed gratitude for the Soon-Shiong family’s ownership and conveyed confidence in the future of the Union-Tribune, acknowledging the challenges of the industry but maintaining optimism.
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