Canadian company buys Pasadena daily; price is not disclosed.Canadian company buys Pasadena daily; price is not disclosed A unit of Toronto-based Thomson Newspaper Group has bought the majority interest in the Pasadena Star-News The Pasadena Star-News is the local daily newspaper for Pasadena, California. The Star-News is a member of the Los Angeles Newspaper Group. External links
The unit, a management company called San Gabriel Valley The San Gabriel Valley is one of the principal valleys of southern California. It lies to the east of the city of Los Angeles, to the north of the Puente Hills, to the south of the San Gabriel Mountains, and to the west of the Inland Empire. Tribune Inc., said it had bought common stock previously owned by Texas media magnate William Dean Singleton William Dean Singleton is the chairman of the board of directors of the Associated Press, on which he has sat since 1999. He is also the founder, vice chairman and chief executive officer of MediaNews Group, the fourth-largest newspaper company in the United States in terms of , who retains a minority interest in the Star-News Singleton sin·gle·ton n. An offspring born alone. singleton Medtalk One baby. Cf Triplet, Twin. acquired the Star-News, which covers the west San Gabriel Valley area, for $55 million from the Knight-Ridder newspaper chain in June 1989. When Knight-Ridder put the paper on the block, it had said it would not sell the 103-year-old paper to a foreign company. Thomson also owns two dailies covering the east San Gabriel Valley -- the Whittier Daily News, an 18,000 circulation paper, and the San Gabriel Valley Tribune, which has 63,000 readers. The San Gabriel Valley Management Co. was formed a month after Singleton bought the Star-News to oversee business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets at the Tribune and Star-News, and the same stories and photographs often appear in both papers. |
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