The owner of the Los Angeles Times plans to take the newspaper public in the next year, allowing it “to be democratized and allow the public to have ownership of this paper,” he said.
Dr. Patrick Soon-Shiong told Jon Stewart on Monday’s episode of “The Daily Show With Jon Stewart” that he was “working through” the move with “an organization that’s putting that together right now.”
Soon-Shiong did not say whether the deal would involve an initial public offer to sell shares of the company or another investment arrangement.
“Whether you’re right, left, Democrat, Republican, you’re an American. So the opportunity for us to provide a paper that is the voices of the people, truly the voices of the people, is important,” he said.
Soon-Shiong, who made his fortune in the pharmaceutical and biotech fields, bought The Times in 2018.
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