The owner of The Orange County Register announced today that the paper has been bought by 2100 Trust LLC, a privately-held company led by a Massachusetts investor who previously planned to buy The Boston Globe.
Today’s announcement is the latest in a major sea change in U.S. newspaper ownership as the industry struggles to adapt to the Internet age following years of plunging ad revenues and declining circulation.
A whole new group of media players has entered the scene, the most notable of which is billionaire Warren Buffett whose company, Berkshire Hathaway, said last month it would pay $142 million for 63 Media General newspapers.
Southern California’s media landscape is also being remade. Last year, Douglas F. Manchester, a San Diego developer and hotelier, bought the Union-Tribune from Platinum Equity, a Beverly Hills private equity firm. Manchester told online website Voice of San Diego he paid more than $110 million for the paper.
Changes may also be in the works at the Los Angeles Times whose owner, the Tribune Co., is going through what is expected to be the final stages of a nearly four-year bankruptcy.
Many experts think the creditors who will take over Tribune Co. after the bankruptcy will sell off its various properties including the Times.
Read the full story – Orange County Register company bought by private firm
Also, read the family history of The O.C. Register founders – Hoiles: Dynasty to bankruptcy