The sale of the Los Angeles Times is final today. Billionaire Patrick Soon-Shiong spent $500 million to buy the paper, along with the San Diego Union-Tribune and some other smaller titles. The deal brings the papers back under local ownership and away from Chicago-based Tronc. Soon-Shiong appointed a new executive editor, veteran journalist Norman Pearlstine. USC Annenberg Journalism Professor Gabriel Kahn wrote an open letter to Soon-Shiong on Sunday.