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L.A. billionaire's investment could sink Gannett bid for L.A. Times owner

L.A. billionaire's investment could sink Gannett bid for L.A. Times owner

In the battle for control of Los Angeles Times parent Tribune Publishing, two health tech investors look to be the likely winners, while a massive newspaper company may walk away empty-handed.

After a month of public sniping and acrimony, an unexpected $70.5-million investment from L.A. billionaire Patrick Soon-Shiong could force USA Today publisher Gannett Co. to drop its hostile buyout bid even though it appeared to have the upper hand last week.

The investment...

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