Tribune Publishing, owner of The Times, the Chicago Tribune and other daily newspapers, announced Thursday that it will pay $85 million in a cash-and-stock deal for the U-T, eight community weeklies and related websites.
The acquisition will extend the company’s reach into the country’s eighth-largest city and give it a dominant position over a wide swath of Southern California.
“We’re combining two of the most enduring institutions in California,” said Austin Beutner, Times publisher and chief executive. “We can take the best of what each newsroom can offer, and offer it to a broader customer base.”
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