
“Biotech billionaire Patrick Soon-Shiong has agreed to purchase the Los Angeles Times from its parent company Tronc, restoring local ownership and perhaps ending a turbulent period for the storied 136-year-old institution,” per the Times itself. “Chicago-based Tronc on Wednesday announced the sale of the Times and the San Diego Union-Tribune to Soon-Shiong’s investment firm Nant Capital for nearly $500 million in cash. In addition to the purchase price, the deal includes the assumption of $90 million in pension liabilities.”
The Times answers the obvious question about the doctor-turned-entrepreneur in a companion piece headlined “Who is Patrick Soon-Shiong? An L.A. billionaire with big ideasand mixed achievements.”
As for what getting he’s getting of the deal, well, particularly in regard to The Los Angeles Times, Soon-Shiong is inheriting a lot of dramaof an operatic scale unpredecented in the recent history of media companies. Here, a brief tick-tock of notable Times-related news over the past half year:
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