It's unclear whether Soon-Shiong will use his new position as LA Times owner to influence coverage, including of his many medical projects and connections with various Los Angeles businesses.
Shares of Tronc soared 20% in early Wednesday trading after the company found a suitor to buy the Los Angeles Times.
The move comes after months of newsroom unrest at the storied Los Angeles daily that has seen three editors in the past six months, and a vote to unionize the journalists.
Discontent intensified during a staff meeting when Mr D'Vorkin said that anyone involved with leaking a recording of a previous meeting to The New York Times was "morally bankrupt", according to several people in attendance. He now owns a 3% stake.
The sale of the Los Angeles Times is in keeping with one of two trends in media ownership: big companies getting bigger and wealthy investors taking on newspapers as philanthropic endeavors, said Al Tompkins, a senior faculty member at the Poynter Institute. The appointment of Kirk, a veteran newsman, relieved some of the tension stirred up by his predecessor, Lewis D'Vorkin, a former Forbes editor who did little to foster a close working relationship with his journalists.
Colts' Edwin Jackson killed by driver illegally in US
On top of that, Orrego-Savala has also been hit with a federal charge for illegally reentering the country after being deported. Orrego-Savala presented investigators with a Mexican Consulate Identification Card and used the alias Alex Cabrera Gonsales.
"It's still very big and has a great franchise", Edmonds said.
The deal coincides with an unrelated announcement of the formation of Tronc Interactive, a new division to be focused on business.
"I'd say this is good news, but with a caveat", said Dan Kennedy, a Northeastern University journalism professor and author of a forthcoming book on the efforts of Bezos and Henry to remake American newspapers. The two also clashed over the sale of the parent company to Gannett, with Soon-Shiong in favor and Ferro opposed. 'My goal is to try and preserve the integrity and the viability of the newspaper'. Levinsohn was named publisher in August.
In recent weeks, reporters and editors grew concerned that management was keeping them in the dark about the company's strategic plans, which appeared to include the hiring of new editors and outside contributors who would produce centralised content across Tronc's publications. It's the fourth most widely distributed newspaper in the United States.
'Given the huge challenges still faced by news publishing in the age of Google/Facebook ad duopoly and still-onrushing digital disruption, even a billionaire has his work cut out for him, ' Doctor said.
U.S. flu outbreak worsens, likely to linger for weeks: CDC
Another 2,349 New Yorkers with the flu were hospitalized, the highest weekly number since the state began keeping records in 2004. Children, the elderly, pregnant women and people whose immune systems are compromised are especially susceptible to the flu.
National Pizza Day: Where to get the best deals
These pizzas include specials like their La Patrona and La Choriquezo, which are loaded with Chorizo sausage and fresh mozzarella. And like other made-up food holidays, it's a day for freebies, specials and a chance to save some dough - on dough.
Airstrikes pound rebel region of Syria; 55 dead
However, Russia's United Nations envoy Vassily Nebenzia dismissed the appeal as "unrealistic", the AFP news agency reported . But most experts say the Syrian regime appears intent to clear one of the last remaining rebel-held areas.