Wednesday, March 18, 2009

San Diego paper finds buyer, Tucson paper may sell

The Copley Press said on Wednesday that a private equity company will buy The San Diego Union-Tribune, and Gannett Co Inc (GCI.N) said that a "couple of parties" may want to buy the Tucson Citizen.

Platinum Equity, a private equity firm in Beverly Hills, California, will buy the Union-Tribune for an undisclosed price. It will end 80 years of Copley ownership of the paper, it reported on its website on Wednesday.

Gannett executives, meanwhile, told financial analysts in a webcast in New York on Wednesday that it is discussing terms on possibly selling the Citizen, but declined to provide more details.

The paper was to print its last edition on Saturday. It will stay open while the talks continue, Gannett said.

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