Press Play with Madeleine Brand
For LA Times and its billionaire owner Patrick Soon-Shiong, an uncertain future lies ahead
The Wall Street Journal reported that Patrick 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.
By Madeleine Brand • • 7m ListenBiotech 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.”
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The full episode
3 of 5LA County moves from purple to red tier. Business owners are cautiously optimistic- 0:00‘We’re excited, we’re nervous’: Greg Laemmle and other LA business owners cautiously eye reopenings
- 10:34Former Rep. Katie Hill sues GOP operative over release of intimate photos, citing revenge porn laws
- 18:31For LA Times and its billionaire owner Patrick Soon-Shiong, an uncertain future lies aheadYou’re reading this
- 26:12Beyoncé, Taylor Swift, Megan Thee Stallion dominated at 2021 Grammys
- 34:12‘Biggie: I Got a Story to Tell’: How Notorious B.I.G. became a star and took loved ones along for the ride