Owner of Los Angeles Times to sell the paper: Report

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.

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.

Tronc was not immediately available for comment.