Billionaire Patrick Soon-Shiong reaches deal to buy L.A. Times and San Diego Union-Tribune

[laserhaas]

Source: L.A. Times

Biotech billionaire Patrick Soon-Shiong has agreed to purchase the Los Angeles Times from its parent company Tronc, restoring local ownership and perhaps ending a turbulent period for the storied 136-year-old institution.

Chicago-based Tronc on Wednesday announced the sale of The Times and the San Diego Union-Tribune to Soon-Shiong's investment firm Nant Capital for nearly $500 million in cash. In addition to the purchase price, the deal includes the assumption of $90 million in pension liabilities

Read more: https://www.google.com/amp/www.latimes.com/business/hollywood/la-fi-ct-los-angeles-times-sold-20180207-story.html%3foutputType=amp

[Eliot Rosewater]

1. I like this part

"We need newspapers," he said. "We need this intellectual integrity. We need writers and editors who are passionate about this work."

Other than that I dont know about this guy, anybody?

[laserhaas]

2. I'm in So Cal and never heard of him

[IronLionZion]

6. Another immigrant that Trump could do without, his career has been in healthcare and technology

Who is Patrick Soon-Shiong? An L.A. billionaire with big ideas — and mixed achievements http://www.latimes.com/business/la-fi-soon-shiong-latimes-20180207-story.html



He has bold plans for good things. I hope the health care stuff works out and helps people.

[KWR65]

3. Our Capitalist Masters will decide which news we will see.

[IronLionZion]

7. Who else would decide? Would you like Trump and Putin to decide?

[KWR65]

8. Both of those people are our capitalist masters also.

[extvbroadcaster]

4. I hope this is like Washington Post

It was going down the shitter until Bezos bought it. He put money into it, and now they roast Trump daily. Trump might be able to strong arm some poor subcontractor in New Jersey, but Bezos has more money than god and is not afraid of anybody, least of all Trump. Let's hope the LA Times becomes like the Post.

[still_one]

5. The WP is reporting the news, and the editorials try to present both viewpoints. They are not "out

to roast trump". Trump does hat quite well himself by his actions and policies

[State the Obvious]

9. Quite the philanthropist...

He helped fund the Orthopedic wing of St. John's Health Center in Santa Monica (2009) and has worked with Gates and Buffet in their philanthropic group, as well as consulted with Joe Biden on his cancer initiative... with the hope to "solve healthcare" and "win the war on cancer."

He directed his political contributions primarily to Democrats, including Hillary Clinton in 2016.

Both he and his wife were born is South Africa.

[BigmanPigman]

10. The Union Trib has always been a Right Wing rag.

I got it for my 6th grade class for free in the 90s to teach Newspapers in Education. I wouldn't house train my dog with it it's so bad. All of the readable news services were API. It also paid women less than men. The new owner couldn't make it any worse, that's for sure.

[stuffmatters]

11. Totally agree. SD has always had a Republican MSM since I've been here (30 years)

Even after "Papa Doug" sold the UT, the Manchurian suppression of Democratic voices he lead throughout all the MSM here has held. As you say, it couldn't be any worse than it's always been with this new ownership.

Re:' This historic RW media stranglehold here: CBS in San Diego (channel 8) has always been very conservative. But it hit a new low the other night @ 11: the news anchor identified, emphasized criminal suspects as "dreamers" in a report ! I mean that's about as in your face RW ugly as I've ever seen journalism here. Maybe Sinclair bought them; I know they were up for sale.

[BigmanPigman]

12. I only watch KPBS for local news, except for weather and traffic.

The rest are too irritating and insipid. Who cares how much a prom dress costs? How is that news?