Tribune company gets $70.5m from L.A.’s richest person
Tribune company gets $70.5m from L.A.’s richest person
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Dr. Patrick Soon-Shiong, physician, surgeon and scientist, addresses delegates on day two of the NHS conference in 2014.; Credit: Flickr user NHS Confederation/Creative Commons
The L.A. Times’ parent company Tribune Publishing just got a $70.5 million injection of cash.
It comes from a former doctor who’s known as the richest man in LA – Patrick Soon-Shiong.
Soon-Shiong’s investment means that the Tribune can avoid a takeover by the media company Gannett.
Take Two finds out what this ultimately means to readers of the L.A. Times with Ken Doctor, media analyst for Newsonomics.