La Jolla-based Copley Press, the parent company of the San Diego Union-Tribune, announced today that it has reached an agreement to sell the newspaper to the Beverly Hills private equity firm Platinum Equity for an undisclosed price.
Copley had been seeking a buyer since July 2008 for the company’s flagship paper. The family-owned chain acquired the paper in 1928.
Platinum expects to complete the purchase during the second quarter.
Platinum buys businesses in struggling markets and has made nearly 100 acquisitions since it was founded in 1995.