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Los Angeles Times Sold to Local Billionaire for $500 Million

The Los Angeles Times is being sold to a local billionaire for $500 million, ending its strained tenure under the owner of the Chicago Tribune. Dr. Patrick Soon-Shiong is a major shareholder of Chicago's Tronc Inc., one of the richest men in Los Angeles and, according to Forbes, the nation's wealthiest doctor, with a net worth of $7.8 billion. The deal includes The San Diego Union-Tribune, various titles in the California News Group and the assumption of $90 million...

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