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U-T Explores Sale
Published: Thursday, July 24, 2008 2:56 PM PDT
The San Diego Union-Tribune is reporting that it could be up for sale. The paper says that its parent company, The Copley Press Inc., has hired an investment banker to explore a possible sale.
My colleague Rob Davis has done a good job covering the newspaper's recent financial troubles.
Here are some links to those stories to give you some background:
(Jan. 16, 2008) The San Diego Union-Tribune lays off 27 employees, including at least five newsroom staffers, the latest cut in a company that has reduced its workforce by 10 percent in the past month.
(Dec. 4, 2007) The newspaper aims to cut 43 employees in a newsroom of approximately 360 people, a 12 percent reduction in reporters, editors and photographers. Forty employees from other departments are also being targeted in a company of 1,422.
(Dec. 19, 2007) Forty-five veteran employees of the newspaper accepted voluntary early retirement offers, as the newspaper cuts payroll costs to cope with an industrywide trend of declining circulation.
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