Sale Of Los Angeles Times To Billionaire Being Negotiated

By BRIAN MELLEY, Associated Press, San Francisco Chronicle
Tue, 02/06/2018 - 8:51pm

LOS ANGELES (AP) — The owner of the Los Angeles Times is in talks to sell the newspaper to a billionaire medical entrepreneur. Dr. Patrick Soon-Shiong, a major shareholder of parent company Tronc Inc., would pay $500 million for the newspaper and the San Diego Union-Tribune, a person with knowledge of the deal told The Associated Press on Tuesday after word of the sale was first reported by The Washington Post and Times. The person, who spoke on condition of anonymity because the sale hadn't been finalized, said the deal was coming together quickly, but cautioned it could still fall apart. The sale would come amid turmoil at the Times, which has suffered through years of cutbacks and a revolving door of leadership in top positions.

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