Los Angeles Times owner in talks to sell newspaper

Los Angeles Times owner in talks to sell newspaper

- in Business
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LOS ANGELES — 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 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.




Image: Los Angeles Times

Pedestrians look at news photos posted outside the Los Angeles Times building downtown Los Angeles on May 16, 2016.