LA Times parent company wins bid for Orange County Register, Riverside Press-Enterprise

SANTA ANA — Tribune Publishing Co. aounced today that its subsidiary, Orange County Media, LLC, was the successful bidder at a public bankruptcy auction to acquire substantially all of the assets of Freedom Communications Inc., owner of the Orange County Register and the Press- Enterprise in Riverside.

Under the terms of the bid, Chicago-based Tribune Publishing has agreed to pay $56 million in cash for Freedom Communications and its real estate in Santa Ana and Riverside, Tribune said in a statement.

Tribune Publishing’s successful bid is subject to Bankruptcy Court approval at a hearing scheduled for March 21, 2016. The transaction is subject to customary closing conditions.

“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 Southe Califoia,” said Tribune Publishing CEO Justin Dearbo.

Tribune also owns the Los Angeles Times and San Diego Union-Tribune.

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