By: Joe Strupp The owner of a San Diego television station is interested in forming a partnership of investors to buy the troubled San Diego Union-Tribune, the newspaper reported Wednesday.
In a story, the paper stated "the owner of KUSI/Channel 51 television station said yesterday that he is talking to potential partners about making a bid for the ? Union-Tribune.
"Less than two weeks after parent company Copley Press said the paper is on the market, station owner Michael D. McKinnon said he doesn't want to see it sold to a distant corporation with few ties to San Diego," the paper added.
?We are definitely interested in making sure the U-T stays locally owned,? McKinnon told the paper.
"With newspapers around the country suffering declines in advertising and circulation, La Jolla-based Copley Press said on July 24 that it has hired an investment banking firm to explore strategic options, including a possible sale of the paper," the story added. "Copley Press officials had no comment yesterday."
McKinnon, who declined to name his potential partners, has served as publisher of the former La Jolla Journal in the late 1950s and early 1960s, the paper reported, adding that he took control of KUSI in 1990 and also owns two television stations in Texas.
McKinnon told the U-T that there could be success in combining assets of a newspaper and television station under a single owner. ?It's going to take a lot of energy,? he said in the story. ?Newspapers are having a tough time, but they're not dead.?
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