(AP) — The Los Angeles Times is being sold to a local billionaire for $500 million, ending its strained tenure under the owner of the Chicago Tribune.
Dr. Patrick Soon-Shiong is a major shareholder of Chicago’s Tronc Inc., one of the richest men in Los Angeles and, according to Forbes, the nation’s wealthiest doctor, with a net worth of $7.8 billion.
The announcement Wednesday means that for the first time in 18 years the Times will be under local ownership. Soon-Shiong takes over in a time of turmoil at the paper. The paper just replaced its top editor, the third switch at the top job in the newsroom in six months. Publisher Ross Levinsohn is on unpaid leave after revelations that he was a defendant in two sexual harassment lawsuits elsewhere.
What’s his angle? Will the Times now be anti-ACA, etc.?
Not many places in the world where a person of Chinese ancestry, born in South Africa, and who had lived and studied in Canada would still be called “local.”
E pluribus unum.
According to his wikipedia entry he’s been in Southern California since 1983–was professor at UCLA 1983-1991.
His medical and business resume is really impressive, but no information on his politics.
Unfortunately, as an example to the other billionaires, I still want him to go bankrupt trying to redo the world into his fevered imagination.
He’s a mixed bag.
In 2008, he supported Giuliani whereas in 2016 he supported Clinton.
He has also supported McCain in Arizona, against challengers from both parties.