The owner of The San Diego Union-Tribune announced Thursday it has signed an agreement of sale for the 143-year-old newspaper to MLIM, LLC, owned by local entrepreneur Doug Manchester. He is joined by longtime media executive John Lynch, who serves as President and CEO of MLIM.
The terms of the agreement are confidential and the deal is expected to close by Dec. 15.
Manchester is well-known for his hotel and commercial property development in the county. Lynch is a founder of the Broadcast Company of America and has a long history of owning radio stations.
Platinum Equity purchased the company in May 2009 and has led the media organization through critical changes that have resulted in circulation growth, increased advertising revenue and creation of new digital and print products.
Read the full story on San Diego Business
http://www.signonsandiego.com/news/2011/nov/17/platinum-equity-seell-san-diego-union-tribune-doug/.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment