Billionaire Patrick Soon-Shiong close to deal to buy the LA Times and San Diego Union-Tribune
by Meg James and James Rufus Koren, Los Angeles Times
Feb 07, 2018
3 minutes
LOS ANGELES_Los Angeles biotech billionaire Patrick Soon-Shiong is nearing a deal to buy the Los Angeles Times and The San Diego Union-Tribune from its parent company, Tronc, according to two people familiar with the talks.
The nearly $500 million cash deal, if consummated, would return The Times to local ownership after 18 years and represent a major shift for Chicago-based Tronc, which has built its strategy around owning newspapers in the country's largest cities. The company has said that The Times was the cornerstone of its strategy, given its
You’re reading a preview, subscribe to read more.
Start your free 30 days