(Bloomberg) -- The Los Angeles Times said its billionaire owner, Patrick Soon-Shiong, isn’t looking to sell the business, countering a report in the Wall Street Journal that he was considering unloading the struggling newspaper.

“Dr. Soon-Shiong and his family continue to invest in and plan for the future of the Los Angeles Times, and do not plan to sell,” representative Hillary Manning said Friday in an emailed statement.

Soon-Shiong himself went on Twitter to describe the story as “inaccurate,” saying he was committed to the Times.

The Journal reported that Soon-Shiong, a biotech entrepreneur, was exploring the move less than three years after buying the paper for $500 million. In 2018, he acquired the Times along with the San Diego-Union Tribune and some other publications from Tronc Inc., now known as Tribune Publishing Co.

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