Owner of Los Angeles Times to sell the paper: Report

Media & AdvertisingReuters

Tronc Inc (NASDAQ:TRNC), the owner of the Los Angeles Times, is expected to announce it is selling the newspaper, the Washington Post reported on Tuesday, citing people familiar with the matter.

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The buyer is Patrick Soon-Shiong, a Los Angeles-area physician and a major shareholder in Tronc, according to the report.

Soon-Shiong, who heads NantHealth Inc, will also buy Times' sister newspaper, the San Diego Union-Tribune, the Washington Post reported.

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Tronc was not immediately available for comment.

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