UPDATE: San Diego Business Journal editor-in-chief Reo Carr is asked about his sourcing on the story. He tells Patch: “We would not have published the story if we didn’t have solid confirmation that it was factual and correct. Our sources are confidential and did not want to be identified.”
UPDATE II: U-T San Diego CEO John Lynch tells the North County Times that there’s been no acquisition. He declined to say if talks are in progress.
San Diego Business Journal reports — with no sources named — that “Papa Doug” Manchester’s U-T San Diego has bought the North County Times and Californian, but U-T CEO John Lynch tells the business weekly that nothing’s been signed yet.
The sales price was not disclosed, but there is speculation that the North County Times is currently profitable and was sold for five times its cash flow, or between $8 million and $10 million.
Meanwhile, the U-T San Diego editorial board is telling readers that the future doesn’t look good with President Obama leading the country: “The U-T sees $8- to $10-a-gallon gasoline in 2016. …we predict an effort to have late-term abortions paid for by taxpayers …we even predict an effort to get “In God we Trust” removed from U.S. symbols, including our money.”
ALSO: A reader shares this invitation to tomorrow night’s Republican Party of San Diego/UT-San Diego event, which the Los Angeles Times recently wrote about:
You are cordially invited to join Chairman Tony Krvaric and the Republican Party of San Diego County for an exciting evening at the new U-T San Diego: A One-Stop Shop for Candidates
* Welcome and introductory remarks by John Lynch, Vice Chairman & CEO
* Media Savvy: How to get noticed by the press, how to craft a press release
* Editorial Board Q& A: Who are they, how do they decide what to write about, how does one get endorsed?
* Meet the Editor
* The new U-T San Diego: learn about this innovative new media company right in our own back yard – a “one-stop shop” for candidates
* Tour of the U-T TV studio and the new newsroom with Roger Hedgecock
* Networking and refreshments in the Auto Museum
Tuesday, September 11, 2012, 6-8 PM
U-T San Diego
350 Camino De La Reina
San Diego, California 92108
Business Attire – Invitation is Non-Transferable
Please R.S.V.P. by Friday, September 7 to Ms. Mary Hart at (619) 293-1104 or email@example.com