Los Angeles, CA – Patrick Soon-Shiong, the billionaire owner of the Los Angeles Times, announced his intention to take the newspaper public within the next year. The surprising revelation came during his appearance on Jon Stewart's "The Daily Show" on Monday, July 21, 2025, where he stated the move aims to "democratize" the 143-year-old publication and allow public ownership. The announcement was met with applause from the studio audience. Soon-Shiong elaborated on his vision for the Los Angeles Times, emphasizing the need for the paper to reflect a broad spectrum of voices. He indicated that the public offering is a strategic step to secure the newspaper's long-term future amidst ongoing financial challenges, including reported annual losses ranging from $30 million to $40 million, which led to significant staff reductions earlier this year. A transplant surgeon and medical researcher, Soon-Shiong amassed his fortune in the pharmaceutical industry before acquiring the Los Angeles Times and The San Diego Union-Tribune in 2018 for $500 million from Tronc Inc. His initial acquisition was framed by a desire to preserve journalistic integrity and provide local ownership for the influential West Coast publication. The interview also touched upon the owner's efforts to steer the newspaper's editorial stance, which has drawn scrutiny and controversy. Notably, in October 2024, Soon-Shiong intervened to block the LA Times editorial board from endorsing then-Vice President Kamala Harris in the 2024 U.S. presidential election. This decision, aimed at fostering a "both sides" approach, led to the resignation of the editorial board editor and a backlash from some subscribers. The planned IPO represents a significant shift for the Los Angeles Times, which has navigated a turbulent media landscape marked by declining revenues and evolving readership habits. The move is expected to provide a new capital infusion and potentially redefine the ownership model for major metropolitan newspapers in the digital age, as the publication seeks to stabilize its operations and expand its reach.