LOS ANGELES - A biotech billionaire struck a $500 million deal Wednesday to buy the Los Angeles Times, ending the paper's quarrelsome relationship with its Chicago-based overseers and bringing it under local ownership for the first time in 18 years. The agreement between Los Angeles medical entrepreneur Dr. Patrick Soon-Shiong and Tronc represents the latest instance of a rich, civic-minded individual purchasing a newspaper from a big corporation. The South African-born Soon-Shiong, 65, amassed his fortune in part by developing a cancer drug in 1991.
Biotech Billionaire Buys Los Angeles Times For $500 Million
By Brian Melley, ASSOCIATED PRESS, Houston Chronicle: Business
Wed, 02/07/2018 - 7:51pm
BING NEWS:
- Daughter of Los Angeles Times owner says Harris endorsement was blocked over Gaza war support
Patrick Soon-Shiong, the billionaire doctor who purchased the Los Angeles Times in 2018 for $500 million, later refuted her comments, saying that she was not involved in the decision. “Nika speaks in ...
10/26/2024 - 12:37 pm | View Link - Los Angeles Times editor resigns after billionaire owner blocks Harris endorsement
Mariel Garza said the owner's decision to cut Harris endorsement "undermines the integrity of the editorial board" ...
10/24/2024 - 2:02 pm | View Link - Los Angeles Times editorial boss resigns after billionaire owner Patrick Soon-Shiong scraps Harris endorsement
The editorials editor for the Los Angeles Times stepped down Wednesday after the newspaper’s billionaire owner stopped the publication’s expected endorsement of Vice President Kamala Harris. Mariel ...
10/23/2024 - 1:25 pm | View Link - Los Angeles Times editor resigns after newspaper owner blocked plans to endorse Harris
The Los Angeles Times’ editorials editor said Wednesday she had resigned from her post after the newspaper’s owner blocked a decision to endorse Kamala Harris in the presidential election.
10/23/2024 - 12:12 pm | View Link - More
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