LA Times billionaire owner Soon-Shiong plans to take newspaper public

The billionaire owner of Los Angeles Times, Dr. Patrick Sun Chiong, announced on Monday that he would take the newspaper at some point next year, describing it to move to a democratic situation in the paper.

“It is important for the paper to have the voices of everyone, and this is what I wanted to do, right?” He said in “The Daily Show”. “Whether you are right, left, democratic, Republican, you are an American, so the opportunity for us to provide a paper is people’s voices, really people’s voices, so I will announce something for you tonight … We will literally take in Los Angeles Times for the public and allow them to democracy.”

Soon-Shiong bought the newspaper for $ 500 million in 2018. He said that the offer would allow the public to ownership of the newspaper and to say in the board of directors. He did not go into details about how this appeared in practice.

“I am working with an organization that brings this together at the present time,” said John Stewart to the public newspaper.

The owner of Los Angeles Times declares that the paper will soon have a new editing plate until “all votes are heard”

“Ethics become absent if the truth is not actually told,” Soon-Shiong said on Monday. “Our institutions today, there is a lot of lack of confidence. Unless you have the truth and confidence, these two words, I think we will not have any healing in the country … I live this American dream. I am a migrant here, right? So, this is a really great opportunity to get a privilege to be Americans.”

The interview with Stewart stalled mainly in Soon-Shiong’s efforts to treat cancer. In addition to holding times, Soon-Shiong is a surgeon, a medical researcher and a biotechnology businessman seeking to develop a cancer vaccine.

The decision to offer public relations comes amid Los Angeles Times. In April, Adweek stated that the paper lost $ 50 million in 2024, in the same year that listed 115 employees.

The duration of Jeff Bezos as the owner of the Washington Post in the spotlight while the paper wrestles with the low morale, the exit of the employees

Dr. Patrick Sun Chiong has the Los Angeles Times. (Photo by David Paul Morris / Bloomberg via Getty Images / Getty Images)

The Soon-Shiong period was also distinguished by discontent with employees, especially because of his recent efforts to reduce its content. He defended his moves to fix the left -wing opinion pages in an interview with Fox News Digital earlier this year.

“I really wanted to make sure that we are a reliable source for all Americans,” Suniiung said in January. “California is clearly blue, very blue. When the pages of our opinion were unilateral, these are just opinions, I wanted to make sure that everyone has an opportunity to express their own opinion. And most importantly, opinion based on facts, not speculation.”

Get Fox Business on the Go by clicking here

He was also angry at liberal media outlets when, such as Washington Post Jeff Bezos, extracted a planned support for Kamala Harris in the 2024 elections. Soon-SHIONG expressed his willingness in the past to work with the Trump administration for his lunar cancer and disappointment because there is no partnership from the Biden administration.

Fox News Digital has arrived at The La Times for an additional comment.