Los Angeles Times Sold To Local Billionaire For $500 Million

By BRIAN MELLEY, Associated Press, San Francisco Chronicle
Wed, 02/07/2018 - 11:09am

LOS ANGELES (AP) — A billionaire doctor struck a $500 million deal Wednesday to buy the Los Angeles Times, ending the paper's quarrelsome relationship with its Chicago-based corporate overseers and bringing it under local ownership for the first time in 18 years. The agreement between Los Angeles-based medical entrepreneur Dr. Patrick Soon-Shiong (soon-shong) and Tronc Inc.

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