Historic sale of the L.A. Times to billionaire Patrick Soon-Shiong to close on Monday

By | 2018-06-30T01:30:02+00:00 June 16th, 2018|Categories: News|

Source: LA Times

Biotech billionaire Dr. Patrick Soon-Shiong on Monday will take control of the Los Angeles Times and San Diego Union-Tribune, two historic newspapers rooted in Southern California civic life for more than 135 years — that now must adapt for the digital age.

Soon-Shiong is spending $500 million to acquire the news organizations, along with Spanish-language Hoy and a handful of community newspapers, from Chicago-based Tronc. The deal, which was announced Feb. 7, returns The Times to local ownership after 18 turbulent years under Chicago control.

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