November 18, 2011 |
Less than three years ago, the San Diego Union-Tribune was a struggling newspaper sold at a cut-rate price by its longtime owner. The newspaper is changing hands again, but this time in a deal worth about $110 million to a high-profile real estate developer who pledged to inject new life and relevance into the 143-year-old institution. Doug Manchester, a well-known but polarizing San Diego-based developer who refers to himself as "Papa Doug," announced Thursday that he is buying the paper and its website from Platinum Equity, a Los Angeles private equity firm.
July 14, 2011 |
The Beverly Hills-based private-equity firm that owns the San Diego Union-Tribune has hired a New York investment bank to explore options for the newspaper, a move often considered a first step for an owner seeking to sell. Platinum Equity, which acquired the paper two years ago from the Copley family, hired Evercore Partners to "evaluate strategic alternatives," said Mark Barnhill, a principal at Platinum. "We manage a large and complex investment portfolio, and routinely consider a range of options that will best position our companies for the future," Barnhill said in a statement.
March 11, 2011 |
The parent company of the Orange County Register has begun an auction seeking to sell all or part of the Irvine-based owner of 100 newspapers and eight TV stations. Freedom Communications Inc., which emerged from Chapter 11 bankruptcy protection last year, was expected to receive bids from a number of suitors before a Thursday deadline set by the company. A spokesman for Freedom declined to provide any information on bids received. Among firms considered likely to make bids for parts of Freedom were Tribune Co. ?
August 9, 2009 |
Beverly Hills investment firm Platinum Equity, which recently bought the San Diego Union-Tribune newspaper, has emerged as a possible buyer of the Boston Globe. Platinum Equity has submitted a "preliminary bid" for the paper, according to a person with knowledge of the proposal. The firm is offering to pay $35 million for the paper and assume $59 million in pension liabilities, according to published reports. The New York Times Co. said in a regulatory filing last week that it was considering putting its New England Media Group, which includes the Globe, up for sale.
July 28, 2009 |
Beverly Hills investment firm Platinum Equity has failed in its effort to acquire Delphi Corp. after the bankrupt auto parts maker opted late Monday to accept a competing bid from its creditors. Delphi, which has been operating under bankruptcy protection since 2005, said Monday night that its board of directors had agreed to accept a "pure credit" bid from its bankruptcy lenders.
July 18, 2009 |
Beverly Hills investment firm Platinum Equity won't find out until next week whether it is the only bidder for bankrupt auto parts maker Delphi Corp. U.S. Bankruptcy Judge Robert Drain, who is overseeing Delphi's Chapter 11 bankruptcy, was scheduled to conduct an auction Friday to sell the company's assets, but postponed it until Tuesday. Platinum currently has the only bid on the table for Delphi, one of the world's biggest auto parts makers and a key supplier to General Motors Co.