Newspapers in UK and US find buyers

Although the Seattle Post-Intelligencer did not succeed in finding a buyer in this troubled economic climate, there are publications that have succeeded where the P-I failed. It was announced yesterday that private equity firm Platinum has bought the San Diego Union-Tribune for an undisclosed amount. Platinum specialises in buying struggling companies, although the Union-Tribune is its first foray into publishing.

Also in the US, plans to close the Tucson Citizen on Saturday have been delayed, due to ongoing sales negotiations with two interested parties. Similarly to the P-I, the Citizen's owner Gannett imposed a deadline of March 21st for either the sale or closure of the publication. Citizen editor Jennifer Boice said that Gannett president Robert J. Dickey "gave no details concerning potential buyers, what was being negotiated or how soon a decision would come", according to EJC.

Across the Atlantic, Tindle Newspapers Ltd. has bought four free newspapers published in the East Devon area. Tindle has been operating a policy of expansion for some time, having acquired three South Essex weeklies last year and 27 London titles in 2007, reports Hold The Front Page. Former Tindle employee Philip Evans previously owned the publications, and the move will save 20 jobs.

Source: New York Times, European Journalism Centre, Hold The Front Page