Patrick Soon-Shiong, MD, the billionaire founder and CEO of NantHealth, has purchased the Los Angeles Times from Tronc, according to The Washington Post.
Under the $500 million deal, Dr. Soon-Shiong, who is a major shareholder of Tronc, will also acquire the San Diego Union-Tribune.
Dr. Soon-Shiong, who is said to be the nation’s wealthiest physician, is a surgeon by training. He made the bulk of his fortune, estimated at around $7.8 billion, starting and selling drug companies, according to the Chicago Tribune.
Read more about Dr. Soon-Shiong here.