• by Ray Schultz , July 12, 2023

Alden Global Capital is on the acquisition trail again.  

Alden’s MediaNews has acquired the San Diego Union-Tribune from The Los Angeles Times, raising fears of staff cutbacks at the Union-Tribune, according to City News, San Diego. 

Founded in 1868, The Union-Tribune was acquired by Tribune Publishing in 2015, and bought by Patrick Soon-Shiong in 2018 in a deal that included the L.A. Times.  

Soon-Shiong wrote in a memo to staff, “We hope that this change now will position both the L.A. Times and San Diego Union-Tribune to succeed,” according to City News. 

At one point, Soon-Shiong was seen as a potential rival buyer.  

Alden acquired Tribune Publishing for a reported $633 million in 2021. 

The purchase of the Union-Tribune has raised fears of newsroom cutbacks. 

A memo to employees Monday states, in part, "No different than the changes announced at the Los Angeles Times last month, the U-T will also need to make some difficult staffing decisions as we assume management," according to City News. "Reductions will be necessary to offset the slowdown in revenues as economic headwinds continue to impact the media industry.” 

The memo continues, “We will seek efficiencies in business operations, distribution and production while striving to support and prioritize the robust, local newsgathering needed to serve the communities that rely on the Union-Tribune for excellence in journalism."

In June, the L.A. Times reduced its newsroom staff by 13%--some 74 positions.

In 2022, Lee Enterprises fended off an attempt by Alden Global Capital to take it over. Alden apparently abandoned the effort.