Los Angeles Times Owner Patrick Soon-Shiong Denies Report Paper Is For Sale – Deadline

Biotech billionaire investor Patrick Soon-Shiong Friday blasted a report that he’s exploring a sale of the Los Angeles Times, saying he’s “committed” to the paper.

He tweeted his commitment shortly after a story in The Wall Street Journal said Soon-Shiong was exploring a sale of the publication he acquired three years ago for $500 million, along with the San Diego Union-Tribune and a handful of weeklies. The report came a few days after the paper’s former owner Tribune Publishing sold the rest of itself to majority shareholder hedge fund Alden Global Capital – which the WSJ floated as a possible buyer.

“WSJ article inaccurate. We are committed to the @LATimes,” he said.


Source: Deadline

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