from Editor&Publisher:
What's Behind Copley's 'Union-Trib' Sale? By Jennifer Saba
Published: July 25, 2008 2:40 PM ET
NEW YORK Why now? Why put The San Diego Union-Tribune -- a major metro at that -- on the block during a time that could kindly be described as one of the most challenging for the industry?
For years, there was speculation that the Copley family, who have run the Union-Tribune in one form or another since 1928, was looking to unload its flagship.
"We feel now is the right time due to influences in the market, particularly in a real estate-dependent market like San Diego," wrote Union-Tribune spokesperson Drew Schlosberg. "We're confident the business will turn around, but as noted previously the uncertainties today make the risk too great for us to not explore options."
But are we really at the bottom?
"I don't know for sure how to read this," said John Morton of Morton Research who tempered the notion that the Copleys are looking for an escape hatch. "It may mean the family, whose head is ailing, may have just decided to get out while the going is good."
....(snip)....
Former newspaper analyst Lauren Rich Fine, who still keeps close tabs on the industry, said she wasn't shocked to see the news of a possible sale. "It's somewhat reminiscent to me of McClatchy selling the Star Tribune," said Fine who is now working with Kent State University. "It's a really difficult environment with fewer economies of scale."
On this ominous note she added: "Things feel like they are getting worse, not better." ......(more)
The complete piece is at:
http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003831974