The Los Angeles Times newspaper plans to go public within the next year, its owner Patrick Soon-Shiong said in a television interview, aiming to give the public ownership of the 143-year-old publication.
"We're literally going to take LA Times public and allow it to be democratized and allow the public to have ownership of this paper," Soon-Shiong said on "The Daily Show" in a taped interview with the host, Jon Stewart, on Monday.
The shitbird billionaire who owns the LAT has pretty much run it into the ground, gutting the newsroom and shifting the paper towards being a propaganda organ for the billionaires' project of turning the country into a autocracy. So now he's setting up an arrangement where the other billionaires and hedge fund pirates can control what's in the paper.
Which means that they'll be pouring more and more money into the paper as the subscriber base disappears.
In other "Oligarchs Control the News" news, Bezos may buy CNBC.
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