📰 Los Angeles Times to Go Public, Owner Patrick Soon‑Shiong Confirms

Patrick Soon‑Shiong, the biotech billionaire who acquired the Los Angeles Times in 2018, revealed plans to take the 143‑year‑old newspaper public within the next year during a taped interview on The Daily Show with Jon Stewart mint.

🗳️ “Democratizing” Ownership

• Soon‑Shiong said the IPO would allow “the public to have ownership of this paper,” mirroring models like the publicly held Green Bay Packers, in which fans can buy equity but without surrendering control Bloomberg.com.
• He emphasized the vision of representing “the voices of the people” across the political spectrum Business Insider.

📉 Context & Challenges

• The move comes after years of newsroom turbulence:
  • Layoffs of over 20% of editorial staff in January due to annual losses of $30–$40 million mint.
  • Leadership exits, including Executive Editor Kevin Merida, Managing Editor Sara Yasin, and the editorial editor—reportedly linked to editorial decisions blocked by Soon‑Shiong Bloomberg.com.
• Since 2018, Soon‑Shiong has steered the paper as Executive Chairman, acquiring it via Nant Capital for $500 million from Tronc .

🔍 What We Know — and Don’t

🧭 Strategic Implications

• Innovative media model: A public offering could provide much-needed capital and transparency, and foster stronger community engagement.
• Control dynamics: While mimicking the Packers’ model, Soon‑Shiong likely intends to maintain central decision-making authority.
• Industry signal: If successful, the move may inspire other legacy media outlets (like the New York Times Co.) to reconsider ownership structures.

🔮 What Comes Next

• Regulatory filings: Watch for upcoming SEC documentation outlining share structure and control parameters.
• Staff and union reaction: Key stakeholders, including LA Times journalists and labor unions, will weigh in on the change.
• Market reception: The IPO’s success will hinge on investor appetite for legacy media with community ownership appeal.

Bottom line: Patrick Soon‑Shiong aims to transition the Los Angeles Times into a publicly owned newspaper with a community-style ownership framework. It’s a bold experiment targeted at revitalizing a storied newsroom amid financial and editorial upheaval. The next 12 months will determine if this pioneering model can take root in the modern media landscape.