Would the billionaire owner of the Los Angeles Times, Patrick Soon-Shiong, consider selling?
There’s every good reason to think so.
With his newsroom staff in open revolt, with Soon-Shiong expressing open contempt of said staff, with layoffs and resignations adding more distrust to the mix and with the paper continuing to lose readers and millions of dollars a month, perhaps the better question would be: Why would he want to keep it?
Let’s recap:
Soon-Shiong bought the paper in 2018 for $500 million, well over market value, thinking he would be the white knight to turn around the flagship’s declining readership and revenue.