NY Post: Soon-Shiong supports McClatchy bid to buy Tronc

Patrick Soon-Shiong, the Los Angeles billionaire who bought the LA Times this year, appears to be backing a bid by McClatchy Co. to buy Tronc, owner of the Chicago Tribune, the Baltimore Sun and other papers, the New York Post reports.  

If a deal with McClatchy takes place, Soon-Shiong, who owns 25 percent of Tronc, could serve as chairman of the combined company, the Post reports.
New York-based investment firm the Donerail Group has been in talks to buy Tronc since summer. Sources say Donerail has offered between $19 and $20 per share for Tronc, valuing Tronc at more than $700 million, according to the Post.

McClatchy and Donerail have not confirmed their interest in purchasing Tronc.
California-based McClatchy entered the picture as a possible buyer for Tronc in September, sources familiar with negotiations said, the Post reported.

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