LOS ANGELES — Dr. Patrick Soon-Shiong, who purchased the “Los Angeles Times” in 2018, on Monday announced on “The Daily Show” that he is taking the paper public.
In going public, Dr. Soon-Shion told Jon Stewart it would allow the paper to be “democratized and allow the public to have the ownership of this paper.”
“it’s important for the paper to have voices of all,” Dr. Soon-Shion told Stewart.
Additionally, the public — investors — would have a say on the board, “very much like the football team,” said Dr. Soon-Shion, referring to the publicly owned Green Bay Packers.
When asked when it would occur, Dr. Soon-Shion said it would happen over the next year. He told Stewart that he is currently working with an organization that’s putting all the details together.
According to the LA Times’ website, the paper is the largest metropolitan daily newspaper in the county, with over 40 million unique latimes.com visitors monthly, and has served the region for more than 143 years.