One of the reasons that the LA Daily News doesn't make a run at the LA Times -- as everyone outside the Valley might wish -- is that the LA Times invested in the Daily News in 1998, and has an option to buy it should it ever be put up for sale. The current owner seems to have agreed to stay in the Valley and "be good" in exchange for some $50 million. Basically, the Daily News has been bought off.
See Matt Welch or AP/Salon or LA Examiner
Update: The Daily News owner (Dean Singleton) is also one of the bidders for the OC Register, and is getting press from guess who
Posted by Kevin Murphy at October 6, 2003 09:50 PM | TrackBack