L.A. Times to change hands

LOS ANGELES — The Los Angeles Times reports that a biotech billionaire will officially take control of the newspaper and the San Diego UnionTribune on Monday.

Dr. Patrick SoonShiong is spending $500 million for the two news organizations, Spanishlanguage newspaper Hoy and some community newspapers from Chicago-based Tronc.

The Times once had more than 1,200 journalists and more than 25 foreign bureaus. Now it employs about 400 journalists with a handful of foreign and national outposts.