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AP National

Owners of Scranton Times-Tribune, 3 other Pennsylvania dailies sell to publishing giant

KIFI
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Published 2:49 PM

SCRANTON, Pa. (AP) — A Pennsylvania media conglomerate has sold its four daily newspapers, including The Times-Tribune of Scranton, to publishing powerhouse MediaNews Group, ending nearly 130 years of local ownership. Times-Shamrock Communications CEO Jim Lewandowski made the announcement to staff on Thursday. The other daily papers in the sale are The Citizens’ Voice of Wilkes-Barre, the Republican Herald of Pottsville, and the (Hazleton) Standard-Speaker. The terms of the sale were not disclosed. A majority of Times-Shamrock’s shareholders approved the sale, but some members of the family that controls the company expressed their opposition. MediaNews Group’s parent company is Alden Global Capital, a New York hedge fund known for slashing budgets and cutting jobs.

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