Patrick Soon-Shiong sells San Diego Union-Tribune to MediaNews Group
Patrick Soon-Shiong, a billionaire biotech executive turned media owner, has sold the San Diego Union-Tribune to MediaNews Group, a local newspaper...
Patrick Soon-Shiong, a billionaire biotech executive turned media owner, has sold the San Diego Union-Tribune to MediaNews Group, a local newspaper company owned by hedge fund Alden Global Capital, for an undisclosed amount. Why it matters: The deal strengthens MediaNews Group's foothold in Southern California. Be smart: The company, which is also known as Digital First Media, is home to hundreds of weekly newspapers and dozens of daily newspapers. It operates a subsidiary called the Southern California News Group, which includes papers such as Orange County Register and Los Angeles Daily News.