‘LOS ANGELES TIMES’ SOLD TO BILLIONAIRE FOR $500M

Media company Tronc will sell the Los Angeles Times, The San Diego UnionTribune and several other California newspapers to billionaire investor Patrick Soon-Shiong. Investment firm Nant Capital, founded by SoonShiong, will pay $500 million in cash and assume $90 million in pension liabilities. Last month, Times employees voted to unionize and publisher Ross Levinsohn was suspended after reports about sexual harassment. Last week saw the arrival of new editor Jim Kirk, who replaced Lewis D’Vorkin, who held the job for three months.