May 22--Tribune Publishing, the parent company of the Los Angeles Times, has completed its purchase of the U-T San Diego from real estate magnate Doug Manchester.
The deal to unite the newspapers of California's two largest cities was announced two weeks ago. Tribune Publishing -- which also owns the Chicago Tribune, Baltimore Sun and other daily newspapers -- paid $85 million in cash and stock for the U-T, eight community weeklies and related websites.
The papers will share content and other resources.
Going forward, the U-T will return to its longtime name, the San Diego Union-Tribune. The paper will be led on a day-to-day basis by Russ Newton, the new president and chief operating officer.
As part of the deal, Chicago-based Tribune Publishing created the California News Group, which will oversee operations of the Los Angeles Times Media Group and the U-T. Times Publisher Austin Beutner has been named publisher of the U-T and will also serve as chief executive of the news group.
In an email to Times employees Thursday, Beutner said he looked forward to "working with all of you as we build a strong future for two independent voices, with a singular commitment to quality journalism."
andrea.chang@latimes.com
