Daily News of L.A. sold

MediaNews Group agreed to purchase the Daily News of Los Angeles, boosting the Denver-based chain’s Southern California holdings to five major suburban daily newspapers, MediaNews said Thursday.

The acquisition follows MediaNews’ purchase last month of the Press-Telegram of Long Beach from Knight-Ridder Inc. through its affiliate, Garden State Newspapers Inc., for an undisclosed amount.

The Daily News purchase, expected to close in 1998, also was made through Garden State, the company said. Again, the purchase price was not disclosed.

MediaNews and its affiliates also own the San Gabriel Valley Tribune, Pasadena Star-News and the Whittier Daily News.

“The addition of the Daily News solidifies our Los Angeles strategy,” said William Dean Singleton, president and chief executive officer of MediaNews Group. “Added to our other daily newspapers in Los Angeles County, it will give us greater advertising and editorial strength. And the Daily News brings an outstanding newspaper to our Southern California group.”

The Daily News, with a circulation of 202,400 daily and 215,100 on Sunday, is the county’s second-largest newspaper and targets the San Fernando Valley.

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