LOS ANGELES (AP) — The owner of the Los Angeles Times has sold sister paper The San Diego Union-Tribune to MediaNews Group, which owns hundreds of papers around the country, the paper announced Monday.
The decision comes after the LA Times announced last month that it was cutting 74 jobs — 13% of its newsroom positions — to deal with financial difficulties.
The Union-Tribune, which covers the second-largest city in California, will now be owned by the same chain that owns a slew of Southern California newspapers. The parent company is Alden Global Capital, a New York hedge fund that has been buying up newspapers across the country and faced criticism for slashing budgets and cutting jobs.
The new owner is offering employee buyouts through next…
