Union-Tribune sold
Quick selections from the Union-Tribune‘s story, which broke the news:
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.
…Platinum specializes in acquiring businesses facing complex operational challenges in declining or transitioning markets. Since its founding in 1995, the firm has completed more than 100 acquisitions in a range of industries.
…Samson could not immediately be reached for further details of Platinum’s plans for the newspaper. 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.
…Black’s role was not specified.
