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    LOS ANGELES TIMES SOLD TO LOCAL BILLIONAIRE FOR $500 MILLION

    Feb 10, 2018 3 minutes

    A biotech billionaire struck a $500 million deal Wednesday to buy the Los Angeles Times, ending the paper’s quarrelsome relationship with its Chicago-based corporate overseers and bringing it under local ownership for the first time in 18 years.

    The agreement between Los Angeles medical entrepreneur Dr. Patrick Soon-Shiong and Tronc Inc. represents the latest instance of a rich, civic-minded individual purchasing a newspaper from a big corporation.

    Soon-Shiong, 65, amassed his fortune in part by developing a

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