Biotech billionaire Patrick Soon-Shiong swoops on Los Angeles Times

Patrick Soon-Shiong, a biotech billionaire who amassed a fortune from developing a new cancer drug, is set to apportion some of his vast wealth to the purchase of the Los Angeles Times and the San Diego Union-Tribune according to reports in the Financial Times.
Already a major shareholder in publisher Tronc, Soon-Shiong is reportedly ready to part with $500m to purchase both titles outright, potentially restoring some stability to the former which has been beset by collapsing circulation and adv