After Years of Discord, L.A. Times Will Once Again Have Local Ownership

The Los Angeles Times, the largest newspaper in the West, is returning to local ownership after two tumultuous decades under the Chicago-based Tribune and Tronc brands.

Nearly $500 million in cash by billionaire L.A. resident Patrick Soon-Shiong is the final price tag for both the Los Angeles Times and the San Diego Union-Tribune, reports The Washington Post.

The deal includes $90 million in pension liabilities for the paper’s staffers over the years. This acquisition comes after many conflict-filled years at the downtown office, including going through five different publishers in just four years and the recent historic vote to unionize by their employees.

The newsroom reportedly responded with applause and cheering.