Nant Capital, LLC Acquires Los Angeles Times and The San Diego Union-Tribune

Nant Capital, LLC Acquires Los Angeles Times and The San Diego Union-Tribune

  

Fried Frank acted as counsel to Nant Capital, LLC in its definitive agreement to acquire the Los Angeles Times, The San Diego Union-Tribune and various titles in the California News Group from tronc, Inc. (NASDAQ: TRNC) for US$500 million in cash, plus the assumption of US$90 million in pension liabilities. The transaction is expected to close late in the first quarter of 2018 or early in the second quarter of 2018. Nant Capital, LLC is a private investment vehicle of California-based entrepreneur Dr. Patrick Soon-Shiong.  tronc, Inc. is a media company that operates newsrooms in eight markets with titles including Chicago Tribune, New York Daily NewsThe Baltimore SunOrlando SentinelSouth Florida's Sun-SentinelDaily PressThe Morning Call of Allentown, Pennsylvania, and Hartford Courant.

The Fried Frank team was led by corporate partner Philip Richter and included corporate partner Brian T. Mangino, executive compensation & ERISA partner Adam Kaminsky, tax partner Alan S. Kaden, corporate special counsel Amber Meek, corporate real estate special counsel Jessica H. Mayes, environmental special counsel Donna Mussio, intellectual property and technology special counsel Amir R. Ghavi, corporate associate P. Ryan Messier, environmental associate Samuel K. Dykstra, and tax associate W. Reid Thompson.

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