Los Angeles Times Parent Tribune Publishing to Buy U-T San Diego for $85 Million

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Tribune Publishing announced Thursday it will pay $85 million in a cash-and-stock deal for the U-T, eight community weeklies and related websites. (Credit: Sandy Huffaker/Getty Images)

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The parent company of the Los Angeles Times has agreed to buy the U-T San Diego, uniting the newspapers of California’s two largest cities under common ownership.

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.”

Click here to read the full story at LATimes.com.

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