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Posted on: Feb. 7, 2018, 12:01 p.m.
Soon-Shiong, a major shareholder in Tronc and chief executive of NantHealth Inc, will buy the publications. : Tronc Inc said on Wednesday it would sell the Los Angeles Times, the San Diego Union-Tribune and some other newspapers to billionaire investor Patrick Soon-Shiong for $500 million in cash. Shares of Tronc rose more than 40 percent to $25.72 in premarket trading. Tronc expects to use the cash proceeds from the deal to boost its digital businesses by increasing investments and acquisitions. Full investment news articleRelevent to this post: Michigan State University Office of Investments University of Nebraska Foundation,