Truth matters. Community matters. Your support makes both possible. LAist is one of the few places where news remains independent and free from political and corporate influence. Stand up for truth and for LAist. Make your year-end tax-deductible gift now.
This is an archival story that predates current editorial management.
This archival content was written, edited, and published prior to LAist's acquisition by its current owner, Southern California Public Radio ("SCPR"). Content, such as language choice and subject matter, in archival articles therefore may not align with SCPR's current editorial standards. To learn more about those standards and why we make this distinction, please click here.
OC Register, Riverside Press-Enterprise To Be Sold To Digital First Media
When was the last time you saw this? Photo by via the LAist Featured Photos pool on Flickr
An attorney representing Freedom Communications, the parent company of the Orange County Register and Riverside Press-Enterprise, has said that the troubled legacy media company will be sold to Digital First Media, according to a story published on all nine of Digital First’s Southern California outlets. The bid is worth $52.3 million.
Freedom Communications is a bankrupted company, up on the chopping block since declaring Chapter 11 last November following a failed attempt by its former owner, Aaron Kushner, to inject a print daily newspaper into the L.A. media ecosystem. Kushner’s attempt, the L.A. Register, folded after five months.
Digital First’s bid is not the first one to be technically “accepted” by Freedom. Earlier this week, Freedom accepted $56 million cash bid from Tribune Publishing, the parent company of the L.A. Times and the San Diego Union-Tribune.
Within hours, the U.S. Department of Justice stepped in and filed a civil lawsuit against the publisher, arguing that the deal would violate antitrust legislation. On Friday, a U.S. District Court Judge filed a temporary restraining order against Tribune, saying that the deal would have given Tribune a near monopoly over legacy media in Southern California, according to the L.A. Times.
Reporting from KPCC points out that this is somewhat true. If Freedom’s deal with Tribune had moved forward, Tribune would hold the four largest daily newspapers in all of Southern California, and would employ a staff of approximately 1,000 journalists.
At the same time, Digital First Media owns nine different newspapers in the same area. The L.A. Daily News, Long Beach Press-Telegram, Torrance Daily Breeze, Pasadena Star-News, Whittier Daily News, San Gabriel Valley Tribune, San Bernardino Sun, Inland Valley Daily Bulletin, and Redlands Daily Facts—each at one point in history an independently owned and operated daily newspaper providing serious, in depth local coverage—are all assets of Digital First. Nationally, Digital First Media owns 107 publications, including 30 daily papers in California alone.
The question, for those of us stressed about the future of journalism, is whether or not the DOJ will step in and block Digital First Media’s offer. While reporting from the L.A. Times says the government was not concerned about offers from Digital First Media or a group of investors lead by current the current Freedom CEO, the fact that Digital First already owns 107 other newspapers would, in theory, be enough to tip-off the antitrust regulators.
You come to LAist because you want independent reporting and trustworthy local information. Our newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our connected community. We are free to tell the full truth, to hold power to account without fear or favor, and to follow facts wherever they lead. Our only loyalty is to our audiences and our mission: to inform, engage, and strengthen our community.
Right now, LAist has lost $1.7M in annual funding due to Congress clawing back money already approved. The support we receive before year-end will determine how fully our newsroom can continue informing, serving, and strengthening Southern California.
If this story helped you today, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Your tax-deductible donation keeps LAist independent and accessible to everyone.
Right now, LAist has lost $1.7M in annual funding due to Congress clawing back money already approved. The support we receive before year-end will determine how fully our newsroom can continue informing, serving, and strengthening Southern California.
If this story helped you today, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Your tax-deductible donation keeps LAist independent and accessible to everyone.
Senior Vice President News, Editor in Chief
