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Biotech billionaire and Los Angeles Times owner Patrick Soon-Shiong is talking to newspaper chain McClatchy about buying Tronc
BI PRIME: Soon-Shiong also remains Tronc's second-largest shareholder, with a nearly 25% stake. Michael Ferro, the Chicago entrepreneur who was formerly Tronc's chairman, is the largest shareholder, with a nearly 26% stake.
The report details claims the LA Times is hiring a "shadow" team of non-union staffers in a move that could threaten the jobs of newly unionized journalists.
The owner of the USA Today is not buying the owner of the Chicago Tribune and the stocks are crashing.
The deal talks are still ongoing, and both companies are working to make it happen, according to the report.
Newspapers are falling aside to make room for digital media, but this one company is fighting back
The newspaper publisher is focusing on online content.