San Diego Union-Tribune Saved
Private equity firm, Platinum Equity, in cooperation with Black Press bought the parent company of The San Diego Union-Tribune, Union-Tribune, today.
According to the Union-Tribune, “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.”
Black Press was founded in 1985 by David Black and currently publishes 18 award-winning community newspapers—mostly in Canada, though they expanded in to the United States in 2000 with the purchase of the Honolulu Star-Bulletin and in 2006 purchased the Akron (Ohio) Beacon Journal.
The San Diego Union-Tribune has been up for sale since June of 2008.
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