An immigrant who as soon as bundled ink-fresh newspapers at a newspaper printing press took management of the San Diego Union-Tribune at present, and promised in a letter to readers to combat pretend information as if it had been most cancers.
Dr. Patrick Soon-Shiong, a biotech billionaire who has devoted most of his fortune to combating most cancers, on Monday will finalize his $500 million- plus buy of the San Diego Union-Tribune, the Los Angeles Times, and a few neighborhood newspapers.
His buy of the Union-Tribune returned it to the management of a Californian 9 years after an funding group purchased it from the Copley household of San Diego. And it marked the tip of 16 years of often-chaotic management of the L.A. Times, a 135-year-old establishment, by the Tribune Company of Chicago.
Soon-Shiong wrote a letter to readers at present, printed on web page A10 of the U-T and web page A7 of The Times.
“I believe that fake news is the cancer of our times and social media the vehicles for metastasis,” he wrote. “Institutions like The Times and the Union-Tribune are extra important than ever.”
Soon-Shiong mentioned the Internet has sparked “an era of digitally- enabled disruptions which pose an existential threat to the traditional newspaper industry,” and said the newspaper group will have to be run like a business. Then he added: “we are going to spend money on the group’s future.”
Soon-Shiong wrote that his first job was on the truck dock of the Port Elizabeth Evening Post newspaper in South Africa. “I nonetheless recall the sounds and smells of the printing presses as the primary papers rolled off the conveyor belt.
“I might seize as many as 800 copies from an ink-stained pressman, handing them off to my cadre of `runners’ who would then ship them to native companies and residences,” he wrote.
“Newspapers weren’t solely in my blood, additionally they engaged my thoughts.”
Soon-Shiong mentioned The Post’s tales taught him “what it meant to develop up `non-white’ below apartheid. I got here to know the evil penalties of racism and discrimination.
“I started to understand the important function journalism performs in fostering and sustaining democracy and free societies.”
Soon-Shiong mentioned he desires to protect “the integrity, honesty and equity we have noticed in our a long time as avid readers of the Los Angeles Times.
“My household and I fervently imagine that The Times, the Union-Tribune and our different titles should proceed to function beacons of reality, hope and inspiration binding our communities,” he wrote.
“We view the publications we acquired as a quasi-public trust,” Soon- Shiong wrote. “We perceive they would be the voice and inspiration for our cities, our state, the nation and the world.”
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