No Comment: Another Newspaper Sold

Posted by one2many on Sunday November 20, 2011 @11:37PM
from the self-post dept.

Is it telling or amazing that the $110 Million acquisition of San Diego Union Tribune received only 4 total comments on the WSJ and NYT combined? Platinum Equity bought in 2009 for about $50 million turns around 2 years later and sells for 2X to an ultra-conservative hotel developer. Wow...poor San Diego.

NYT: http://mediadecoder.blogs.nytimes.com/2011/11/17/san-diego-newspaper-sold-to-powerful-local-developer/#postComment WSJ: http://blogs.wsj.com/deals/2011/11/18/platinum-equity-to-sell-union-tribune-to-san-diego-entrepreneur/

Is local ownership of news media a good thing?

Can anyone be successful owning 1 or 2 local media outlets (news, tv, radio) in a single major metro market?

( 1 comment | 5 points | on HN )

Re:No Comment: Another Newspaper Sold by AustinEnigmatic on Monday November 21, 2011 @01:36PM (#3262217)

If anything, it shows print media is still very relevant in our ever growing digital world. Over 100% ROI in two years...what other investments are doing that right?

Only time will tell if a mostly liberal San Diego will make the purchase of the paper by a powerful conservative spokesperson a success for the future.

[ Parent | on HN ]