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Patrick Soon-Shiong, the billionaire owner of the Los Angeles Times, announced plans to take the 143-year-old newspaper public within the next year. He revealed this intention during an interview on "The Daily Show" with Jon Stewart. Soon-Shiong stated that the company is currently working with an organization to develop a plan for the initial public offering (IPO). The move aims to give the public ownership of the Los Angeles Times, which is a Southern California-based publication. The announcement has drawn attention given the newspaper's financial challenges and the broader context of the stock market.
The owner of The Los Angeles Times announced on “The Daily Show” with Jon Stewart that he plans to take the paper public within the next year. https://t.co/dzho32VsNX
The idea of selling shares of a hollow entity to investors to build an inventory of shitcoins in treasury and calling it a business model is even worse than buying a jpeg as NFT and calling it an investment.
In case you didn't think this bubble stock market was ridiculous ENOUGH, a money-losing NEWSPAPER now plans to go public! https://t.co/b6nByRniN6
