The parent company of the Los Angeles Times, Tronc Inc., will soon announce its intention to sell the 137-year-old newspaper, The Washington Post reported Tuesday.

Tronc Inc., previously known as Tribune Publishing, will reportedly sell the publication to Patrick Soon-Shiong — a billionaire physician and current Tronc Inc. shareholder based in Los Angles — sources tell the Post.

Soon-Shiong, 65, who is CEO and founder of Culver City-based NantHealth, is also expected to buy the LA Times's sister publication, the San Diego Union-Tribune. Forbes estimated in 2017 that Soon-Shiong's net worth is approximately $9 billion.

Tronc Inc. and the LA Times have long had a tumultuous relationship, but their split comes amid an especially disorderly period at the Times.

Last week, Tronc named former Chicago Sun-Times publisher and editor Jim Kirk as the new editor in chief of the Times, after his predecessor, Lewis D’Vorkin, left just three months into the job. D’Vorkin had taken the role after four top editors were fired in August.

Publisher Ross Levinsohn, who was appointed at the same time as D'Vorkin, was also put on unpaid leave last month following allegations of sexual harassment during his time in executive positions at past companies.

The sale of the Times also comes just weeks after newsroom employees voted overwhelmingly, 248-44, to unionize for the first time in company history. The vote was based on the general platform of gaining higher salaries and better benefits. ADVERTISEMENT The Times's employees are now represented by the NewsGuild-Communications Workers of America, which is based in Washington, D.C., and represents 25,000 reporters, editors and other employees at media outlets throughout the country.

"We respect the outcome of the election and look forward to productive conversations with union leadership as we move forward," Marisa Kollias, spokeswoman for Tronc said after the union vote was announced Jan. 19.

"We remain committed to ensuring that the Los Angeles Times is a leading source for news and information and to producing the award-winning journalism our readers rely on," she added.



The LA Times is the leader in digital subscriptions among regional newspapers, topping 100,000 in September 2017. Since 1942, the paper has won 44 Pulitzer prizes.