The Copley Press, parent company of The San Diego Union-Tribune, announced it is selling the paper and has retained an investment firm to “explore strategic options for the company’s future…”
According to the L.A. Times, the move comes as a surprise, because the publisher has sold other assets such as its news service, its suburban Chicago weekly papers and the Daily Breeze in Torrance, to give its flagship newspaper a financial cushion.
The Union-Tribune is the country’s 21st-largest daily newspaper. It has a circulation of more than 300,000 on weekdays and more than 350,000 on Sundays.