L.A. Times sale for $500 million

The Los Angeles Times will be purchased by L.A.-based billionaire Patrick Soon-Shiong for $500 million.

Soon-Shiong is the founder of Culver City-based NantHealth and a major shareholder in Tronc (once Tribune Publishing), which owns the Times, is also expected to purchase the San Diego Union-Tribune.

The L.A. Times demoted its top editor Lewis D’Vorkin after less than four months on the job.

The Michael Ferro-controlled Tronc owns The Chicago Tribune, the Baltimore Sun and New York Daily News.

Ross Levinsohn, the L.A. Times’ publisher since August, has been on unpaid leave after reports last month of his “frat house” behavior and previous allegations of sexual harassment.

The newsroom voted to unionize in January.