Los Angeles biotech billionaire Patrick Soon-Shiong is buying the Los Angeles Times and San Diego Union-Tribune, according to the news reports.
In a Feb. 6 report, the Washington Post said tronc Inc., the Chicago-based owner of the L.A. Times, is expected to announce that it is selling the newspaper to Soon-Shiong, a major tronc shareholder.
The Los Angeles Times said Soon-Shiong was also in talks to buy tronc-owned San Diego Tribune.
Physician Soon-Shiong is founder and chief executive of NantHealth, based in Culver City, and No. 1 on the Business Journal’s 2017 list of Wealthiest Angelenos.
A L.A. Times and tronc Inc. spokesperson declined to comment on the reports.
The Los Angeles Times newsrooms has recently been in turmoil. On Jan. 19, Times Publisher and Chief Executive Ross Levinsohn was placed on leave following allegations of sexual harassment in the past.
Media and entertainment reporter Diane Haithman can be reached at firstname.lastname@example.org. Follow her on Twitter @dhaithman.
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