Tribune Publishing to pay $85M for San Diego newspaper - Бесплатная аудиокнига

$73 million cash money's what Tribune Publishing agreed to pay for a newspaper in San Diego, California.

Trib says the deal was agreed to Thursday night. It'll take another $12M dollars in Trib common stock to make it final, for a grand total of 85-mil.

Tribune CEO Jack Griffin says the purchase'll drive up stock value for it's shareholders. It's earnings've suffered with tanking revenue from ads.

The deal leaves editorial independence in the hands of Trib's new purchase, UT San Diego; formerly San Diego Union-Tribune, and according to Los Angeles Times CEO Austin Beutner it'll bolster it's relationship with the L.A. Times...also owned by Tribune Publishing...along with the eight other daily newpapers it owns, and, of course, the Chicago Tribune.

Tribune Publishing's it's independent publicly traded company - still based in Chicago - after it's spin off from Tribune Media.