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    New 'LA Times' Owner Wants To Compete With 'New York Times' And 'Washington Post'

    Patrick Soon-Shiong takes over the Los Angeles Times on Monday. He said he hopes it will be perceived "not just as a regional paper, but indeed a national paper and hopefully an international paper."
    by David Folkenflik Jun 18, 2018 6 minutes

    Updated at 12:20 p.m. ET

    Dr. Patrick Soon-Shiong took ownership of the Los Angeles Times in style with a full-page note to his readers and his new employees on Sunday.

    Soon-Shiong bought the newspaper from its former corporate owners, the Chicago-based Tronc newspaper company. NPR spoke to Soon-Shiong about his ambitions for the newspaper.

    "I've not gone into this transaction from a financial basis at all. There's an opportunity to make a major impact on the nation," Soon-Shiong said. "LA Times is one of the three newspapers that can have a national and international impact."

    Soon-Shiong is spending $500 million to buy the LA Times, The San Diego Union-Tribune, Spanish-language Hoy and other community newspapers in Southern California from Chicago-based Tronc. The deal, which was announced Feb. 7, returns the LA Times to local ownership after 18 turbulent years under Chicago control.

    Soon-Shiong is a surgeon, entrepreneur, philanthropist and part owner of the Los Angeles Lakers. He is also a multibillionaire who is an immigrant, born in South Africa to parents

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