The Wall Street Journal: Tronc in talks to sell Los Angeles Times to investor for $500 million

Tronc Inc. is in advanced talks to sell its troubled flagship newspaper, the Los Angeles Times, to billionaire biotech investor Dr. Patrick Soon-Shiong for around $500 million, a person familiar with the matter said.

The deal being discussed also includes the San Diego Union-Tribune and a handful of community papers in Southern California, the person said. A spokesman for Soon-Shiong and a spokeswoman for Tronc didn’t immediately respond to messages seeking comment.

If completed, the deal will bring to a close an ugly shareholder fight between Soon-Shiong, who was ousted from Tronc’s board last year, and the company’s lead shareholder, Chicago entrepreneur Michael W.

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