For LA Times and its billionaire owner Patrick Soon-Shiong, an uncertain future lies ahead

Patrick Soon-Shiong at the NHS Confederation Annual Conference and Exhibition in 2014. Photo by NHS Confederation

Biotech billionaire Patrick Soon-Shiong’s pharmaceutical company is facing a billion dollar lawsuit from a competitor, as his newspaper, the LA Times, still doesn’t have an executive editor and its digital base is experiencing slower than expected growth. The Wall Street Journal also reported that Soon-Shiong is looking to sell the LA Times and its sister paper The San Diego Union-Tribune, though he has repeatedly denied that and disputed the Journal’s reporting. 

A spokesperson for the LA Times issued the following statement to KCRW after this segment first aired: 

“Dr. Soon-Shiong and his family continue to invest in and plan for the future of the California Times, which includes the L.A. Times and San Diego Union-Tribune, and do not plan to sell.”




Credits

Guest:
Rick Edmonds - media business analyst at Poynter

Host:
Madeleine Brand

Producers:
Sarah Sweeney, Angie Perrin, Michell Eloy, Amy Ta, Rosalie Atkinson, Brian Hardzinski, Bennett Purser