, then called Tronc Inc., in 2018, it was met with great fanfare from staff and media watchers after years of turmoil and downsizing at the publications. At the time, he said that the sale represented the beginning of a new era and that he intended to do what it took to make the business viable for the next 100 years.
He has since grown dissatisfied with the news organization’s slow expansion of its digital audience and its substantial losses, the people said. He also has increasingly come to believe that the Los Angeles Times and San Diego Union-Tribune—together known as the California Times company—would be better served if they were part of a larger media group, they said.to develop a Covid-19 vaccine and has had little time to devote to the Times, people familiar with the matter said.
Mr. Soon-Shiong didn’t immediately respond to a message seeking comment and a spokeswoman for the Times had no immediate comment. The options being considered include an outright sale of the entire company, bringing in an additional investor or transferring management of the properties to another media group, people familiar with the matter said. Mr. Soon-Shiong has also considered selling or transferring management of the San Diego publication to another company, possibly Alden Global Capital Inc.’s MediaNews Group, which owns several papers in the areas between the two cities.
in Tribune Publishing it doesn’t already own. That deal still requires shareholder approval, including that of Mr. Soon-Shiong, who owns about 25% of the company.
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