The Los Angeles Times has sold the San Diego Union-Tribune to the MediaNews Group in a move announced Monday by Times owner Patrick Soon-Shiong in an email to staff.
Soon-Shiong lauded the San Diego Union-Tribune as a “great news organization with a long, distinguished history,” with the hope that it “will continue to serve the San Diego community for generations to come.”
“Our intention now is to focus on the ongoing work of transforming the L.A. Times into a self-sustaining institution,” Soon-Shiong said. “Our hometown of Los Angeles and the state of California – really, the West Coast – needs a strong, independent news organization.”
San Diego’s longtime flagship newspaper and leading media outlet will now be in the hands of the Alden Global Capital-owned MediaNews Group, which operates a large swath of local newspapers, including the Los Angeles Daily News, Orange County Register and Riverside Press-Enterprise.
In a separate statement, Times president Chris Argentieri said the company will “continue focusing on building a prosperous future.”
“As of this afternoon, we have completed the transaction to sell The San Diego Union-Tribute to an affiliate of MediaNews Group,” Argentieri said. “We formed the California Times in 2018 when the Soon-Shiong family purchased the Los Angeles Times and San Diego Union-Tribune from Tribune Publishing, and have made a good faith effort to rebuild and support both news organizations. We hope that this change now will help both the L.A. Times and San Diego Union-Tribute to succeed.”
In June 2018, Soon-Shiong took control of what was then known as the California Times Company, which included the Los Angeles Times and the San Diego Union-Tribune. The purchase brought the outlets back under local ownership for the first time in nearly two decades.
“The journey has been marked by many moments of achievement and challenges that have tested our resilience,” concluded Argentieri in his email to staff. “I’m proud of what we’ve accomplished together and look forward to what’s ahead.”
Natalie Korach contributed to this report.
