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Billionaire investor Patrick Soon-Shiong denies report of LA Times sale

·1 min read

Feb 19 (Reuters) - Billionaire investor Patrick Soon-Shiongon Friday denied a report that said he was considering a sale ofthe Los Angeles Times newspaper.

The Wall Street Journal reported that the investor, whobought the newspaper in 2018, was looking to sell thepublication. (https://on.wsj.com/37tDo4u)

"WSJ article inaccurate. We are committed to the @LATimes,"Soon-Shiong said in a tweet https://twitter.com/DrPatSoonShiong/status/1362862504796282881.

Soon-Shiong bought the publication for $500 million cash,along with the San Diego Union-Tribune and some other newspapersfrom Chicago-based publisher Tronc Inc, now known as TribunePublishing Co.

Earlier this week, Alden Global Capital said it will buyTribune Publishing, the owner of the Chicago Tribune, in a $630million deal.

Soon-Shiong, a South African-born high-profile biotechexecutive and physician, is also part owner of the Los AngelesLakers NBA basketball team and runs several medical companies.(Reporting by Tiyashi Datta in Bengaluru; Editing by ArunKoyyur)