For Sale

By Andrew Khouri
September 12, 2014

Digital First Media, the owner of the Los Angeles Daily News and other newspapers across the country, said it will explore the sale of its publications.

Facing a shifting outlook for print publications, Chief Executive John Paton said Friday that the company is looking at options to boost value for stockholders.

“The news information industry in America is undergoing a period of seismic change, defined by the need to consolidate to rapidly compete in a digital world,” he said in a statement.

The nation’s second-largest newspaper chain said UBS Securities LLC will be its financial advisor and Hughes Hubbard & Reed LLP its legal advisor as it explores “strategic alternatives.”

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