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In Los Angeles, a billionaire doctor purchases ailing LA Times newspaper

Patrick Soon-Shiong, a doctor who turned a cancer drug into a multibillion-dollar biotech empire, emerged as a major figure in Los Angeles life with his surprise $500 million purchase of The LA Times

Adam Nagourney Sydney Ember & Tim Arango | NYT 

He was perhaps the least famous billionaire in a city brimming with wealthy celebrities. But Patrick Soon-Shiong, 65, a doctor who turned a cancer drug into a multibillion-dollar biotech empire, emerged on Wednesday as a major figure in Los Angeles life with his surprise $500 million purchase of The Los Angeles Times and its sister newspaper, The San Diego Union-Tribune. Dr. Soon-Shiong has a long — and sometimes checkered — history in the medical field going back to the 1990s, but has kept a relatively low profile in the political, cultural and philanthropic doings of the city. ...

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First Published: Fri, February 09 2018. 00:25 IST
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