Patrick Soon-Shiong “reaffirmed his commitment” to the LA Times last week, the paper reported, after a Wall Street journal report that claimed he’s looking at selling the paper.
The billionaire investor bought the paper in 2018 for $500 million.
“WSJ article inaccurate. We are committed to the @LATimes,” read a tweet from Soon-Shiong.
A spokeswoman for the paper said Soon-Shiong and his family “continue to invest in and plan for the future of the Los Angeles Times, and do not plan to sell.”
WSJ updated its story with that info.
Soon-Shiong is also in news as he owns 24% of Tribune Publishing and would need to give his support for Alden Global Capital’s buy of Tribune Publishing for that deal to go through. There’s been no public word on whether he’ll approve the deal.
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