Union-Tribune owner hires investment advisor to explore possible sale
San Diego Union-Tribune
Platinum Equity, the private investment firm that owns The San Diego Union-Tribune, has hired an investment adviser "to help the company explore alternatives for its future," the newspaper reported. "We’ve seen dramatic improvements to the profitability despite a really tough economic environment,” Ed Moss, publisher of the Union-Tribune, said in the story.
The story says that a sale is not a foregone conclusion. But it cites newspaper analyst Alan Mutter as saying that Platinum's business model is "based on buying and selling companies in three to five years," suggesting they may be exploring a sale. The Los Angeles Times reaches the same conclusion.
Platinum, which specializes in distressed companies, bought the paper in 2009. At the time, Poynter's Rick Edmonds wrote that company leaders said they were not in it for a quick turnaround.