Tronc sale of L.A. Times to local billionaire set to close Monday: report

Sat, 16 Jun 2018 19:11:09 GMT


Southern California biotech billionaire Patrick Soon-Shiong's purchase of the Los Angeles Times from Chicago-based Tronc is slated to close Monday, according to a Saturday report by the Los Angeles paper. Soon-Shiong also gets the San Diego Union-Tribune in the half-billion-dollar deal, along with smaller local publications including an edition of the Spanish-language daily Hoy. The Times report notes that the paper will return to local hands in the deal for the first time in 18 years. Times employees are slated to be relocated to suburban El Segundo, Calif., from the historic downtown tower that had been its home since the 1930s. (The soon-to-be-former sibling Chicago Tribune also moved recently from its architectural showpiece home of nearly a century.)

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