U-T Owner Manchester Shows Interest In Tribune Company
Hotelier and U-T San Diego owner Doug Manchester wants to buy the Tribune Company, which owns the Los Angeles Times.
Since Manchester bought the U-T more than 10 months ago, he's launched a television channel and purchased The North County Times. Now, Manchester says he wants to acquire the Tribune Company, owner of eight daily newspapers including The Chicago Tribune, The Baltimore Sun and The Hartford Courant in addition to the LA Times.
"We certainly are going to look at it," Manchester said. "We are looking at it, yes. I would like to, yes."
Tribune spokesman Gary Weitman refused to comment on what he called speculation regarding the company and its assets. The Tribune's owners are two hedge funds and JP Morgan Chase. U-T CEO John Lynch said recently that the paper's ownership was interested in acquiring a company that would give it a national footprint.
"We believe our business model will work and create great economic benefit to all of the investors," Lynch said.
He said U-T circulation has turned around since Manchester bought the paper last December, but did not provide figures.