Rightwing billionaire Dr. Patrick Soon-Shiong attempt to remake the Los Angeles Times into a more pro-Trump outlet has reportedly lost the paper millions.
Anna Magzanyan, the president of L.A. Times Studios, reportedly told staff that the LA Times lost around $50 million in 2024, AdWeek reported, citing a person with direct knowledge of the remarks.
The disclosure comes after Soon-Shiong, who purchased the LA Times in 2018, is trying to remake the paper into a more Trump friendly outlet. He blocked the paper’s endorsement of Democratic presidential nominee Kamala Harris last year and personally intervened to kill an op-ed critical of Trump’s cabinet members.
He also banned the outlet from publishing “editorials containing criticism” of Trump “unless they are presented side-by-side with another opinion piece representing the ‘opposing view.’”
The paper’s AI-powered ‘bias meter’ which generated opposing views was unveiled earlier this year by Soon-Shiong but came under fire within hours for generating pro-KKK arguments.
Soon-Shiong’s actions as well as the California deadly wildfires have driven away advertisers and subscribers resulting in the loss in revenue.
One source told AdWeek that the paper’s future is unclear if things continue the way they are under Soon-Shiong’s leadership.
