Tribune Publishing Co., owner of The San Diego Union-Tribune and Los Angeles Times, won the bid in a bankruptcy auction for the assets and real estate of Freedom Communications, Inc.
The $56 million bid would bring the Orange County Register in Santa Ana and the Press-Enterprise in Riverside into its possession.
“The successful bid for the business of Freedom Communications will allow the Orange County Register and the Press-Enterprise to continue providing a distinct local voice in their communities and deliver premium news and information to consumers across Southern California,” said Justin Dearborn, CEO of Tribune Publishing, in the company’s news release.
The bid is subject to approval by the bankruptcy court, which will hold a hearing on March 21. Tribune bought The San Diego Union-Tribune this past year.
According to the Los Angeles Times, the Justice Department filed a lawsuit shortly after the winning bid was announced, seeking a temporary restraining order to prevent the sale while it resolves antitrust issues.