Tronc Sells LA Times, Calif. News Portfolio For $500M Cash

Law360 (February 7, 2018, 1:38 PM EST) -- Print and online media company Tronc Inc. has sold the Los Angeles Times, The San Diego Union-Tribune and other titles in the California News Group portfolio for $500 million in cash plus $90 million in pension liabilities to Nant Capital LLC, the investment vehicle of Los Angeles Lakers minority owner Dr. Patrick Soon-Shiong, the company said Wednesday.

  Billionaire Patrick Soon-Shiong has picked up The Los Angeles Times and other California papers in a $500 million deal announced on Wednesday. (AP)

The portfolio had net revenue of...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.