Here's the text of a memo sent by the new owners of the San Diego Union-Tribune, Doug Manchester and John Lynch, to employees this morning. Mike Hodges will be the new president of the newspaper:
To: Union Tribune Employees
From: Papa Doug Manchesterand John T. Lynch
Date: December 6, 2011 ---
Today is avery significant day as we begin our ownership of one of San Diego's mostimportant and historic businesses, the San Diego Union Tribune. With thisstewardship, comes a responsibility to provide a quality product and to be themoral compass of this community.
Themotivation to acquire the U-T is twofold: first, we love our City, its history,believe in its future and believe the Union Tribune should be owned by SanDiegans. Second, the disruption of traditional media has yielded an opportunityto create a far reaching integrated media company, as well as a dailynewspaper, second to none in this great country.
We wouldlike to thank Platinum Equity and Ed Moss for their leadership in rebuildingthe Union Tribune and providing a foundation upon which we can build. Theyaffected much of the difficult and unpleasant work of downsizing the businessmodel at the U-T and positioning the Union Tribune to seize the opportunity tocreate this integrated company. Ed has gracefully agreed to advise MLIM as weinvestigate other media opportunities.
Working withthe MLIM leadership will be Mike Hodges, who, we are pleased to announce, hasbeen appointed President and COO of the Union Tribune. Mike has distinguishedhimself of one of America's innovators of digital and integrated media. Pleasejoin us in congratulating Mike on being named to this new position and for ajob well done.
On December9th, all employees of the Union Tribune will gather to meet andgreet at 8:30 for a hosted breakfast catered by the recently designated 5 StarResort, The Grand Del Mar. We will share our goals and strategies at thisgathering.
We are veryproud to be members of the Union Tribune Family and are confident that we willtogether create a world class integrated Media Company and will be a committedbusiness leader in this great City.
Douglas F.Manchester, Chairman & Publisher
John T. Lynch, ViceChairman & CEO