But over all, employees seemed impressed by and hopeful about his plans, and the meeting ended with a standing ovation.

Negotiations over the purchase of the paper, which some people familiar with the deal had expected to be completed by the end of March, have dragged. Part of the issue is that the deal was put together quickly — in just a matter of days — and due diligence is taking longer than expected. Tronc’s technology had also been supporting The Times, and the two sides are trying to reach an agreement to keep the paper running until it can build its own capabilities, according to one of the people.

On a recent afternoon, Dr. Soon-Shiong, dressed in a dark suit and light blue Ferragamo tie, laid out an ambitious vision for The Times that involves leveraging technology, extending the paper’s video and podcast abilities and moving its headquarters to a new campus. At turns jocular and loquacious, he discussed hiring a top editor and stressed the importance of editorial independence and tolerance. Among the prominent editors he has pursued are two Los Angeles Times veterans — Dean Baquet, the executive editor of The New York Times, and Marty Baron, the executive editor of The Washington Post.

“I look upon the newspaper — on the newsroom side of it and the editorial chief side of it — to be completely independent, factual, honest, fair,” he said. “It also needs to be inspiring, compassionate and caring.”

Journalists in the newsroom, which is exhausted by years of tumult under previous ownership, are cautiously optimistic that Dr. Soon-Shiong will reinvent the paper and return it to financial strength, just as another billionaire, Jeff Bezos, the chief executive of Amazon, has done at The Washington Post.