The owner of the Los Angeles Times said Monday that he will “open paper” next year.
In an interview with “Daily Show with Jon Stewart,” Dr. Patrick Soon-Shiong said the move would “democratize the times and allow the public to own the ownership of this article.”
He did not provide details on how the deal would work or whether it involved the sale of company shares or other types of investment arrangements.
“Whether you are right, left, Democrat, Republican, you are all Americans. So the opportunity we offer is the voice of the people, the voice of the real people.”
“We think we will next year,” he said. “I’m working on it.” [that] An organization that now brings it together. ”
Like most parts of the press, The Times has faced financial headwinds in recent years.
In 2018, Soon-Shiong bought the Los Angeles Times, the San Diego United Tribune and several community newspapers for a $500 million deal.
The sale regained local control after Chicago-based Tronc owned 18 years of turbulent 18 years of ownership. In 2023, he sold the San Diego League-Tribune to Medianews Group.
Suon-Shiong has created its own wealth through groundbreaking pharmaceutical and biotech enterprises, including cancer treatment.
