Patrick Soon-Shiong

Billionaire Patrick Soon-Shiong reaches deal to buy San Diego Union-Tribune, L.A. Times

Billionaire Patrick Soon-Shiong reaches deal to buy San Diego Union-Tribune, L.A. Times

Biotech billionaire Patrick Soon-Shiong has agreed to purchase The San Diego Union-Tribune and the Los Angeles Times from its parent company. (The purchase of The San Diego Union-Tribune includes this newspaper, which is part of U-T Community Press.)

Chicago-based Tronc on Wednesday, Feb. 7, announced the sale of the Union-Tribune, The Times and the Spanish-language Hoy to Soon-Shiong’s investment firm, Nant Capital, for nearly $500 million in cash.

“It is often said that Southern California is the place where the world comes to see its future. It has welcomed generations of immigrants who worked hard, started new businesses and helped others do the same,” Soon-Shiong said...

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