LA Times billionaire owner SOON-SHIONG is set to release newspapers

Billionaire Los Angeles Times Owner Dr. Patrick is SOON-SHIONG On Monday, he announced that he would release the newspaper next year, calling it a move to democratize the paper.

“It’s important that your paper has all the voices. That’s what I wanted to do, right?” he said on the “Daily Show.” “You’re right, left, Democrat, Republican, whether you’re American or not, the opportunity to provide you with a paper that’s the voice of people, truly the voice of people, is to present something to you tonight… We literally take the LA Times and allow it to democratize.”

Soon-Shiong bought the newspaper in 2018 for $500 million. He said the offer would allow the public to have a right to own newspapers and a voice in the board. He didn’t dig into details about what it actually looked like.

“I’m working with the organisation that’s putting it together right now,” Soon-Shiong told host Jon Stewart about the process of publishing the newspaper.

The owner of the Los Angeles Times will announce that the paper will soon have a new editorial board, so “everyone can hear it.”

“In fact, ethics will be cloudy if the truth is not said,” Soon-Shiong said Monday. “Our facility today is very distrustful. Unless you have the truth and trust, we are not going to heal in this country unless you have these two words… I live this American dream. I am immigrant here.

An interview with Stewart delved into Soon-Shiong’s efforts primarily to cure cancer. In addition to hosting The Times, Soon-Shiong is a surgeon, medical researcher and biotechnology entrepreneur, aiming to develop cancer vaccines.

The decision to publish it comes amid news of the Los Angeles Times’ financial struggle. In April, Adweek reported that the paper lost $50 million in 2024. 115 staff members were fired.

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Soon-Shiong’s tenure is also marked by dissatisfaction with staff, particularly with its recent efforts to mitigate its content. He defended the move to reform the left-leaning opinion page of the paper in an interview with Fox News Digital Early this year.

“We wanted to make sure we are a reliable source of information for all Americans,” Soon-Shiong said in January. “Obviously, California is blue, very blue. When our opinion pages are very one-sided and these are just opinions, I wanted to make sure that everyone has the opportunity to express their opinions. And, more importantly, opinions based on facts rather than speculation.”

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He also infuriated liberal media observers when he yanked, like Jeff Bezos, the owner of the Washington Post. Kamala Harris’ planned approval In the 2024 election. Soon-Shiong has expressed his past willingness to work with the Trump administration on his cancer moonshot and disappointment at the lack of partnership from the Biden administration.

Fox News Digital reached out to the LA Times for additional comment.