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,” said Soon-Shiong, a South African-born surgeon, scientist and biotech executive who is also part owner of the Los Angeles Lakers. He founded, and recently merged, two biotech firms, NantKwest and Immunitybio.
LA Times spokesperson Hillary Manning said, “Dr. Soon-Shiong...
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,” said Soon-Shiong, a South African-born surgeon, scientist and biotech executive who is also part owner of the Los Angeles Lakers. He founded, and recently merged, two biotech firms, NantKwest and Immunitybio.
LA Times spokesperson Hillary Manning said, “Dr. Soon-Shiong...
- 2/19/2021
- by Jill Goldsmith
- Deadline Film + TV
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