Tony de Garate 4:30 p.m., June 28
Rumor: U-T Sale Imminent
The rumor mill has the Union-Tribune being sold soon — perhaps this week. The same rumor mill has Canadian press baron David Holmes Black back in the picture.
Before Platinum Equity bought the U-T in 2009, Black was seen scouting out the U-T, the Reader reported. When the Platinum deal was consummated, it was announced that Black would be involved as one lending his expertise. But if Black played a role, it was behind the scenes: he wasn't seen around, according to good sources.
San Diego nabobs Doug ("Papa Doug") Manchester, hotelier, and John Lynch, radio baron, have expressed an interest in buying the U-T (probably to get the real estate cheap), as has KUSI-TV. If Black is involved, the print side could continue. On the other hand, Black is known as one to slash salaries severely. Remember: this is a rumor, but recent rumors have turned out to be pretty accurate.
More like this:
- Rumor: Manchester Buying Orange County Register — March 4, 2012
- Yes, Manchester IS Looking at U-T — Nov. 7, 2011
- Rumor: Papa Doug Buying U-T — Sept. 29, 2011
- U-T Employees Restive Again -- Understandably — March 21, 2011
- According to Rumors, U-T Has Been Sold. But Nobody Knows to Whom, and It May Be a Canard — Oct. 23, 2008