Billionaire physician Patrick Soon-Shiong buys Los Angeles Times

New LA Times owner vows boost to its journalism

Tronc To Sell Los Angeles Times, Other Newspapers For $500 Million

Yesterday, media conglomerate Tronc sold the Los Angeles Times (along with its "sibling paper", The San Diego Union-Tribune) for $500m.

While Mr. Bezos has been applauded for allowing independence at the Post, that hasn't been the case with other rich owners. "My goal is to try and preserve the integrity and the viability of the newspaper". "As residents of Southern California, my family and I have seen the vital role that these publications play in binding our communities together". He is now the executive editor at The New York Times. He will report to Tronc CEO Justin Dearborn, the company said.

The sale of the Los Angeles Times is in keeping with one of two trends in media ownership: big companies getting bigger and wealthy investors taking on newspapers as philanthropic endeavors, said Al Tompkins, a senior faculty member at the Poynter Institute.

Soon-Shiong, 65, made his $8.6 billion fortune with the sale of two drug companies and owns part of the Los Angeles Lakers.

Dr Soon-Shiong‚ who was born to Chinese parents and studied at the University of the Witwatersrand‚ paid $500-million for the titles and also took on $90-million in pension liabilities from publishing group Tronc.

Tronc, formerly known as the Tribune Co., owns the Chicago Tribune and several other us newspapers, including the Baltimore Sun and New York Daily News.

300 child released in South Sudan
Since the conflict began, 17,000 child soldiers have been conscripted into the conflict, UNICEF reported in March 2017. The children will then be provided with vocational training aimed at improving household income and food security.

The Times chafed under Chicago control and layoffs that have trimmed the editorial staff to about 400 today, said Roderick, a former editor who worked for 25 years at the Times.

"There was just an immediate culture clash", Roderick said. It said it is buying a majority stake in online product review company BestReviews for an undisclosed amount. Levinsohn was tapped as publisher in September, but was forced to take a voluntary leave of absence without pay on January 19, when NPR unearthed what it claimed was a past history of sexual harassment in previous media jobs, including being named as a defendant in two lawsuits.

Tronc said an independent investigation did not find any wrongdoing.

Both Levinsohn and D'Vorkin had short and controversial reins that lasted less than a year at the LA Times.

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This story was reported by The Associated Press.

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