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Billionaire Takes Over 'L.A. Times' to Fight Fake News

Monday - 18/06/2018 17:27
The new owner made $7.5 billion from the sale of two biopharmaceutical companies and owns 4.5 percent of the L.A. Lakers.  
Dr. Patrick Soon-Shiong, a medical researcher, an inventor and chairman of the Chan Soon-Shiong Family Foundation, attends a VIP reception before receiving the Treasures of Los Angeles award at Central City Association of Los Angeles on May 9, 2013. REUTE
Dr. Patrick Soon-Shiong, a medical researcher, an inventor and chairman of the Chan Soon-Shiong Family Foundation, attends a VIP reception before receiving the Treasures of Los Angeles award at Central City Association of Los Angeles on May 9, 2013. REUTE

A local billionaire who immigrated to America from South Africa took over The San Diego Union-Tribune and the Los Angeles Times Sunday and published a letter to all their readers promising that he would fight fake news like cancer.

Surgeon, entrepreneur and philanthropist Dr. Patrick Soon-Shiong, 65, who made his fortune in the biotech industry, will complete his purchase of the 150-year-old San Diego Union-TribuneLos Angeles Times and other local newspapers on Monday, June 18, for $500 million, reported NBC San Diego.

On Sunday, Soon-Shiong published a letter in the Union-Tribune and L.A. Times promising his readers that he was dedicated to fighting fake news and upholding independent journalism. “I believe that fake news is the cancer of our times and social media the vehicles for metastasis,” he wrote. “Institutions like the Union-Tribune and the Times are more vital than ever.”

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