[Source]Billionaire media proprietor Patrick Soon-Shiong has sold the San Diego Union-Tribune (U-T) to competing local newspaper company MediaNews Group for an undisclosed amount. Also known as Digital First Media, the company reportedly owns hundreds of weekly newspapers and dozens of daily newspapers, including the Orange County Register, Long Beach Press-Telegram and Los Angeles Daily News. Our hometown of Los Angeles and the state of California — really, the West Coast — needs a strong, independent news organization,” Soon-Shiong said. “We believe in the L.A. Times and are committed to its future.”More from NextShark: Five Russian asylum seekers who fled Putin's war stranded at S. Korean airport for monthsAbout Soon-Shiong: Soon-Shiong and his family bought the Union-Tribune and the Los Angeles Times for $500 million in June 2018. Soon-Shiong reportedly sold two drug companies — Abraxis in 2010 and American Pharmaceutical Partners in 2008 — for a combined $9.1 billion.

Source: Los Angeles Times July 11, 2023 20:08 UTC