Biotech Billionaire Purchases LA Times, San Diego Tribune
It was announced this morning biotech billionaire Patrick Soon-Shiong has agreed to purchase the Los Angeles Times and the San Diego Tribune from their parent company Tronc.
The deal is worth half a billion dollars and comes at a tumultuous time for the newspaper whose reporters recently voted to unionize.
In addition, the paper’s CEO has been placed on leave due to sexual harassment allegations.
Joining us to discuss this sale and what it means for the future of the paper and the industry is Rick Edmonds, media business analyst for the Poynter Institute.