Alden Global Capital is the parent company of Media News Group, which runs the Southern California News Group papers, among them the Orange County Register, Los Angeles Daily News, Riverside Press-Enterprise.
Los Angeles billionaire Patrick Soon-Shiong has sold The San Diego Union-Tribune to an affiliate of the MediaNews Group for an undisclosed amount, it was announced on Monday.
The News Group is the parent company of the Southern California News Group papers, among them the Orange County Register, Los Angeles Daily News, Riverside Press-Enterprise, Daily Breeze, Long Beach Press-Telegram, San Gabriel Valley Tribune, Pasadena Star-News, Whittier Daily News, San Bernardino Sun, Inland Valley Daily Bulletin and Redlands Daily Facts.
An effort will be made, she said, to find efficiencies in business operations, distribution and production, “while striving to support and prioritize the robust, local newsgathering needed to serve the communities that rely on the Union-Tribune for excellence in journalism.” The sale comes as the Los Angeles Times has had to make deep cuts of its own. The media organization recently announced it was eliminating 74 positions in its newsroom, which translates to about 13 percent of its staff.
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