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San Diego Union Tribune and Los Angeles times sold to Patrick Soon-Shiong

Y2kTheNewOldies

Y2kTheNewOldies

https://www.politico.com/story/2018/02/06/los-angeles-times-newspaper-395926

https://www.bloomberg.com/news/arti...d-near-sale-of-l-a-times-to-local-billionaire

Interesting move for Tronc to sell the LA Times and San Diego Union Tribune.


The Times itself reported a deal to sell the paper to Soon-Shiong was "close."


The move would give the paper local ownership for the first time since the Chandler family sold its parent company to Tribune Co. in 2000. Soon-Shiong, who is 63, would also acquire the San Diego Union-Tribune in the deal, according to the Post.

Neither a spokesperson for Soon-Shiong’s company nor Tronc responded to requests for comment.

Soon-Shiong, who was born in South Africa to parents of Chinese descent, is best known for his high-profile crusade to fight cancer by matching genetic drugs to particular tumors through a high-powered database. But he has recently expanded his assets to include management over seven hospitals, two public companies, and a stake of the Los Angeles Lakers, among other holdings.
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