LA Times sold to billionaire doctor for $500 million

LA Times sold to billionaire doctor for $500 million

"These moves follow intense newsroom anger over D'Vorkin's [handling] of the paper's coverage of Disney; amorphous plans to supplement Los Angeles Times and Tronc content with non-newsroom writers and content partners; and D'Vorkin's obsessive reaction to newsroom leaks and controversies", David reported at the time. A representative for Soon-Shiong told The Post he was traveling and unavailable for comment on the report.

The deal coincides with an unrelated announcement of the formation of Tronc Interactive, a new division to be focused on business. The paper's publisher had been placed on unpaid leave pending an investigation into sexual harassment allegations, three editors have helmed the Times in the past six months, and the newsroom voted to unionize over management's objections in January.

Soon-Shiong has challenged majority Tronc share owner Michael Ferro on several issues, according to The Washington Post, including Ferro's use of a private jet and other executive perks.

Soon-Shiong's purchase of the Times marks a return to local ownership for the newspaper after it was in the hands of the Chicago-based news group for much of the past two decades.

Soon-Shiong isn't new to Tronc.

Asteroid bigger than a blue whale is heading for Earth today
Unlike the Chelyabinsk rock, though, this asteroid will miss our planet, passing by Earth on Friday evening British time. That asteroid , also discovered by the Catalina Sky Survey, was estimated to be between 15m and 30m (50-100ft) in size.

'I am concerned there are other agendas, independent of the newspaper's needs or the fiduciary obligations to the viability of the organization, ' he said at the time. The appointment of Kirk, a veteran newsman, relieved some of the tension stirred up by his predecessor, Lewis D'Vorkin, a former Forbes editor who did little to foster a close working relationship with his journalists. 'My goal is to try and preserve the integrity and the viability of the newspaper'.

Frustration among employees has mounted since August, when Tronc abruptly ousted top leaders at the Times, including Mr Davan Maharaj, the paper's editor and publisher. That sparked fears the business side would wield undue influence in editorial matters.

Tribune looked at the Times, which had about 1,000 journalists and saw fat that could be trimmed, said Kevin Roderick, the editor of the LA Observed, a blog that has spent much of its 15 years chronicling shake-ups at the newspaper.

The question is whether a new owner will do more than halt cutbacks by reinvesting, as Bezos and Henry did at their newspapers, to set the Times on a new path.

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