San Diego developer to buy city's main newspaper

By the Associated Press | November 17, 2011 | 1:05 PM EST

SAN DIEGO (AP) — One of San Diego's most prominent real estate developers has agreed to buy the city's dominant newspaper.

Doug Manchester said Thursday that he would buy The San Diego Union-Tribune for an undisclosed sum. The transaction is expected to close Dec. 15.

The seller is Platinum Equity, a Beverly Hills-based investment firm that bought the 143-year-old newspaper in May 2009.

Manchester has hired media executive John Lynch. The Union-Tribune reports that Lynch has a long history of owning radio stations.