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United States: Private equity firm to buy major California newspaper.
Section: General News - A private equity firm is to buy the San Diego Union-Tribune, one of the largest daily newspapers in California, for a undisclosed price, it was announced Wednesday.
The transaction is expected to be completed in the second quarter of the year between Beverly Hills-based investment firm Platinum Equity and the Copley Press newspaper group, current owner of the daily, according to a joint statement.
The statement didn't say how much the buyer will pay for the 140-year-old Union-Tribune, which is the main daily newspaper in San Diego, the second largest city in California and the eighth largest in the United States.
Copley …
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