• by Erik Sass  @eriksass1, November 17, 2011

One of the nation’s larger metropolitan daily newspapers is changing hands, with Thursday’s announcement that The San Diego Union-Tribune has been sold by Platinum Equity to MLIM, LLC, a company owned by San Diego real estate developer Doug Manchester, for an undisclosed sum.

Although there is no word on business or editorial staff changes as yet, the Union-Tribune reports that Manchester, who owns high-profile hotel and commercial properties around San Diego, has hired media executive John Lynch to serve as president and CEO of MLIM. 

Lynch previously founded the Broadcast Company of America and made a name for himself outside the newspaper business as an owner of radio stations. 

According to the Union-Tribune, since purchasing the newspaper from Copley Press in May 2009, Platinum Equity has presided over growing circulation, advertising revenue and an array of new digital and print products. Many of these initiatives were spearheaded by new management brought in by Platinum, including president and publisher Ed Moss and editor Jeff Light.

Among the new initiatives, in August 2009 the paper launched a new ad program offering micro-zoning for small business clients at lower local rates. The paper also mounted an editorial effort to drive more local news coverage to targeted communities in San Diego.

In April 2010, the Union-Tribune launched a Daily Deal program, and in August of last year, it completed a total redesign of the newspaper and its online property signonsandiego.com. In April 2011 the company acquired the online lifestyle property DiscoverSD.com to expand its reach with a younger demographic. This month, it launched Vida Latina San Diego, a Spanish-language entertainment magazine.