Patrick Soon-Shiong. Photo (cc) 2014 by NHS Confederation.
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Could the billionaire surgeon Patrick Soon-Shiong save Tribune Publishing’s newspapers?
A report in today’s Wall Street Journal on Alden Global Capital’s bid to grab majority control of the company notes that Soon-Shiong is Tribune’s second-largest shareholder. Soon-Shiong bought the Los Angeles Times, The San Diego Union-Tribune and a bag of balls from Tribune in 2018 for about $500 million. Alden proposes to pay $521 million to up its share of Tribune from 32% to more than 50%.
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