Patrick Soon-Shiong and his family have sold the San Diego Union-Tribune to competing publisher MediaNews Group, which is owned by controversial New York hedge fund Alden Global Capital, slimming down the family’s holdings to just the Los Angeles Times.
Alden already owns more than 70 dailies across the country, including the Orange County Register, Long Beach Press-Telegram and Los Angeles Daily News.
“The Union-Tribune is a great news organization with a long, distinguished history that I hope will continue to serve the San Diego community for generations to come,” Soon-Shiong said. “Our intention now is to focus on the ongoing work of transforming the L.A. Times into a self-sustaining institution. Our hometown of Los Angeles and the state of California — really, the West Coast — needs a strong, independent news organization. We believe in the L.A. Times and are committed to its future.
Nearly a third of the cuts came from news operations and copy editor ranks. Photographers, audience engagement editors, news operations managers, audio producers and sports copy editors lost their jobs.
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