Some important SoCal newspaper news this morning via U-T San Diego. The paper’s owner is set to close a deal by October 1 to acquire the assets of San Diego regional newspaper North County Times.
From today’s announcement:
Mary Junck, Lee Entreprises, Inc. chairman and chief executive officer, said: “We welcome Mr. Manchester’s stewardship of the North County Times. Because of continually changing market conditions, it became increasingly apparent that the North County Times would benefit from becoming part of a strong regional operation. While we regret having to say goodbye to so many talented colleagues and friends, we look forward to watching the North County Times continue to prosper under the new ownership.”
The price being paid by Doug Manchester’s MLIM Holdings to North County Times parent Lee Enterprises, Inc. is $11.95 million. According to the latest figures, the Times has a daily print circulation of 74,848.
The North County Times launched in December 1995 and was the result of a merger between two historic local newspapers – Escondido’s Times Advocate (established in 1886) and Oceanside’s North County Blade–Citizen (1892). The online edition gets around 800,000 unique visitors per month.