Wednesday, February 7, 2018

Patrick Soon-Shiong Buys Both LA Times, SD Union Tribune

Biotech billionaire Patrick Soon-Shiong has acquired both the Los Angeles Times and the San Diego Union Tribune, in a deal worth $500M in cash, from current owner Tronc. According to the LA Times, the deal--put together in only five days--is being made through Soon-Shiong's company Nant Capital, and also includes assumption of $90M in pension liabilities.