February 7, 2018 / 2:14 PM / in 5 months

BRIEF-Tronc To Sell The Los Angeles Times And The San Diego Union-Tribune For $500 Mln

Feb 7 (Reuters) - Tronc Inc:

* TRONC, INC. ANNOUNCES SALE OF THE LOS ANGELES TIMES AND THE SAN DIEGO UNION-TRIBUNE TO DR. PATRICK SOON-SHIONG FOR $500 MILLION PLUS THE ASSUMPTION OF $90 MILLION IN PENSION LIABILITIES

* TRONC INC - ‍AFTER-TAX CASH PROCEEDS WILL BE USED TO REPAY ALL CURRENTLY OUTSTANDING CORPORATE DEBT​

* TRONC INC - TO TRANSFER OPERATIONAL LIABILITIES ASSOCIATED WITH LOS ANGELES TIMES, SAN DIEGO UNION-TRIBUNE & OTHER RELATED COMMUNITY-BASED PUBLICATIONS

* TRONC INC - ‍TRANSACTION HAS BEEN APPROVED BY TRONC BOARD OF DIRECTORS​

* TRONC INC - TRONC WILL ALSO TRANSFER $90 MILLION IN PENSION LIABILITIES IN CONNECTION WITH TRANSACTION

* TRONC INC - ‍ ENTERED AGREEMENT TO SELL LOS ANGELES TIMES, SAN DIEGO UNION-TRIBUNE AND VARIOUS TITLES IN CALIFORNIA NEWS GROUP TO NANT CAPITAL​ Source text for Eikon: Further company coverage:

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