U-T will probably be sold*
Copley Press Inc. was once a journalistic force in Southern California. The company began folding up shop in late 2006 with the sale of the Daily Breeze. A year later, Copley shuttered its bureau in Los Angeles and consolidated operations at the San Diego Union-Tribune. Now, Copley is taking steps to sell off its last major brand:
The announcement by privately owned The Copley Press Inc. follows the sale of several key assets, including its Copley News Service newswire arm and small papers in Illinois and Ohio, over the past 18 months.
The parent company of the San Diego Union-Tribune said Thursday it has retained an investment-banking firm to explore a potential sale.
Earlier this year, the Union-Tribune cut 10 percent of its work force. The cuts included 76 buyouts, including newsroom positions, layoffs of 27 employees and the elimination of 14 pressroom jobs.
The San Diego Union-Tribune won a Pulitzer Prize in 2006 for its reporting on the bribery scandal that landed former Republican Rep. Randy "Duke" Cunningham in federal prison.
*The Union-Tribune on the possible sale of the Union-Tribune.