Tuesday, February 6, 2018

Patrick Soon-Shiong To Buy LA Times, Says Report

Biotech mogul and billionaire Dr. Patrick Soon-Shiong has agreed to acquire the Los Angeles Times from current owner Tronc, according to a report from the Washington Post on Tuesday afternoon. Financial details of the deal were not disclosed, and neither Tronc nor the LA Times had confirmed the deal yet. The Washington Post quoted "people involved in the deal" for the news. Patrick Soon-Shiong is a biotech billionaire and technology industry regular, who runs the NantWorks family of companies in Los Angeles. Soon-Shiong had attempted to acquire the LA Times back in 2015.