Patrick Soon-Shiong, the Los Angeles billionaire who bought the LA Times this year, appears to be backing a bid by McClatchy Co. to buy Tronc, owner of the Chicago Tribune, the Baltimore Sun and other papers, the New York Post reports 
If a deal with McClatchy takes place, Soon-Shiong, who owns 25 percent of Tronc, could serve as chairman of the combined company, the Post reports.
New York-based investment firm the Donerail Group has been in talks to buy Tronc since summer. Sources say Donerail has offered between $19 and $20 per share for Tronc, valuing Tronc at more than $700 million, according to the Post.
McClatchy and Donerail have not confirmed their interest in purchasing Tronc.
California-based McClatchy entered the picture as a possible buyer for Tronc in September, sources familiar with negotiations said, the Post reported.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.