Los Angeles biotech billionaire Patrick Soon-Shiong is in talks to acquire the Los Angeles Times and San Diego Union Tribune, the newspaper reports.
The deal, valued at $500-million, would return the Times to local ownership, and end parent company tronc’s increasingly troubled relationship with the Southern California news outlet.
An acquisition would cap a tumultuous period for the Times, in which publisher Ross Levinsohn was placed on unpaid leave as tronc investigations allegations of past sexual misconduct; embattled editor in chief Lewis D’Vorkin was replaced by Chicago journalist Jim Kirk, and the editorial staff voted to unionize.
A tronc spokesperson could not immediately be reached for comment.
