Nov 17, 2011

Union-Tribune sold

Platinum Equity has turned around and sold the San Diego Union-Tribune two years after buying the newspaper. The new owner will be a real estate company MLIM, owned by Doug Manchester, reports The Wrap. Now, real estate entrepreneurs and newspapers don't always mix well (see here), but Manchester does have the advantage of being local.

Voice of San Diego had this to say in a story presaging the sale:
If Manchester bought the newspaper outright, he'd get a key piece of property that local real estate analysts have said was a valuable part of the Union-Tribune's 2009 sale to Platinum: The company's main building, which sits on 13 acres in Mission Valley, just south of the Fashion Valley mall.

46 comments:

Anonymous said...

Wonder if the little guy will get to keep his job.

Anonymous said...

Follow the money. I'll bet the real estate section gets bigger quickly. LOL.

Anonymous said...

Going to get nasty or strange or both. Here's where they are going with this:

http://www.voiceofsandiego.org/environment/muck/article_aafd0af6-11a3-11e1-843d-001cc4c002e0.html

Anonymous said...

I say this with complete honesty. Of all the twits I have worked with and for, the little gnome is the second best boss I have ever had...all the rest are tied for first. Goes to show you that talent, ability and honesty don't matter.

Jedediah Leland said...

Personal conflicts aside with past management, the sale to the SD realty firm is a good move, allowing the new owner to capitalize publishing operations against property value. Sale of the property will allow relocation of a right-sized newspaper to smaller leased space. Continued regional consolidation will allow for closure of unneeded LANG and OC register offices, sale of remaining buildings, and an optimized consolidation of SoCal newspapers from LA to SD counties in one modest sized leased space somewhere centrally located, maybe in Temecula. About 30 desks will do, half for editorial and half for business, and investment in a 500 gig external drive or two to receive reader generated content.

Anonymous said...

I agree 1:57, with two exceptions. You are about fifty percent high on the number of desks unless you are throwing the bang operation too. And, Death Valley may be a better location, considering the No Cal and So Cal properties.

Anonymous said...

Ok why are you bothering with desks those are way to costly. Your cars are cheaper.

To see the future please look at the Press-Telegram and soon to be implemented at the Breeze.

The newsroom is dead and print to follow

Anonymous said...

Always a kill joy in the group isn't there?

Next you'll be telling us that advertising is gone forever, circulation will continue to dwindle and Pluto isn't a planet any longer. And not that Pluto.

Optimist said...

Everything will be fine if expense can be reduced enough.

Anonymous said...

Here's more on Lynch's plans. You can tell he is chafing at the bit to get in and chop heads, kill stories and generally whore the place out. He's the guy who is going to be there "every day."

http://www.voiceofsandiego.org/environment/muck/article_e0dcd978-1237-11e1-b280-001cc4c002e0.html?mode=comments

Anonymous said...

Everything will be fine if expense can be reduced enough? Are you high? It is about extinct revenues, not reduction of expense. There in lies the problem...do you work for the government?

Anonymous said...

@7:15 ... Verbal irony occurs when people say the opposite of what they mean.

Anonymous said...

@7:15 ... Verbal irony occurs when people say the opposite of what they mean.

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Anonymous said...

They need to outsource their pre-press just like we do here at LADN. Send my pics to a kid over in Bangladesh, he tweeks them, photoshops anything that don't look good, makes em look real pretty and guess what, I am not responsible for all the fake pics being published. Isn't our genius boss great?

Anonymous said...

Thanks for the definition of verbal irony. And all this time II was under the mistaken impression that it was house work.

Anonymous said...

No, that's ironying. Every presser and folder knows that, in this morning, out by afternoon.

Anonymous said...

Gracias, I knew I had heard it before.

Anonymous said...

"In by morning, out by afternoon" is the way daysiders remember when to go home.

Anonymous said...

The UT of old is gone. Will Jeff Light stick around and run a PR machine for the Chamber of Commerce? I guess he'll have a lot of soul searching to do......HA!

Anonymous said...

One word: digital first.

Anonymous said...

I wonder what the turnover at the newspaper will be after this latest purchase. If in fact the purchase was just for the real estate, I doubt very little premium, if any attached to the value of the product. Since no one seems to focus on revenue growth or is capable of selling product, the future doesn't look bright. As far as digital, are you serious? No creativity, no revenue, no way. Maybe they can bring back Newspapers Next, that brilliant program that jump started print a few years ago. If I remember correctly, little eddie fully embraced that wonderful program...way to go little eddie.

Anonymous said...

@ 4:23 AM-

I agree, Ideas that die on the vine.

Every writer shoot video of your interviews and just put it raw online and tag an ad to it. Oh did I mention the interview content is just as if not more uninteresting as the story/ paper ?

Brilliant !

Anonymous said...

OK dinosaurs, listen up.
It's over.

Anonymous said...

wait a second. you mean to tell me that there is no recovery in sight? even when the economy comes a roaring back? you are kidding right? those ad numbers and circ numbers will pick up soon and owners and publishers will realize the errors of their ways and invest in content rather than cuts. you can't be serious. newspapers will be awesome once again.

Anonymous said...

annd their bringing back the manual typewritter and rotary phone.

Anonymous said...

did they ever stop using them? dont forget whiteout and carbon paper. a shame they arent bringing back management competence.

Anonymous said...

The outside media stories say the U-T sale will be completed Dec. 15,but their own story says it could be as early as the end of the month. Anyone heard?

Anonymous said...

Does the two weeks really make a difference?

Anonymous said...

I'm looking for buyer or tenents for a commercial building in San Diego. Good triple AAA building, good street access and location. Can't beat the weather, of course, and access to southern California market, international ports and Mexico trade. Current tenants include high volume Quiznos and Starbucks, and small newspaper office.

Anonymous said...

By the way, wonder how our fearless, outstanding former leader Steve Lambert is doing out in the real world where he has to do some work. Or is he still pushing people around? Anyone out there with an update?

What about the lackey Frank Pine who got sent back to the basement at Ontario? How's he doing? He still complaining about his personal life to anyone that will listen?

9:22 chicken shit said...

9:22 chicken shit

Anonymous said...

Hey, I worked with lambert and never felt he carried his weight at the paper in any job he had during the last five years or so. Can you tell me anything he innovated during that time that was worthwhile?

Anonymous said...

Enough already

Anonymous said...

Gary?!?! This is your mother....where are you Gary? You never call anymore....

Anonymous said...

to enough already...he deserves all he gets.

Anonymous said...

Chicken shit and this blog go together like fava beans and a fine chianti.

Anonymous said...

I don't know about bores. They don't hurt anybody, most of them, and maybe they're secretly all terrific whistlers or something. Who the hell knows? Not me.

Anonymous said...

As long as we're name dropping, what the hell is Randy Heltsley doing these days -- other than dropping anonymous jabs here?

Anonymous said...

re: Chicken w fava,

Is all true that Lambert never carried his weight but rather hopped on employees backs to stay above the rising waters, all along pushing them down into the swirling shark infested waters. Lambert left because he knew he was next in the chopping block and did not want to walk out like everyone else he got rid or, with only a couple of minutes to put stuff in a box and be escorted out the back door. What a complete useless excuse for a human being he was. He took pleasure in firing people,berating them until the last second about how dumb they were and how smart he was. I heard many a firing with my own ears and saw it with my own eyes. Glad he's gone is an understatement.

Anonymous said...

Another fan heard from. Exactly how did lang assemble such a cast of crap managers and expect to receive anything but what they have. The Mt Rushmore hall of shame hands down.

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