Overview
- The unaudited accounts show a $48.1 million net loss before taxes for 2024 and a further $21.5 million net loss before taxes in the first half of 2025.
- The company launched a private placement offering to raise up to $500 million with shares priced at $5,000, a 7% annual dividend, and a 25% conversion discount at a planned IPO.
- Investor materials detail the integration of the Los Angeles Times, LA Times Studios, Nant Studios, and Nant Games under one platform called Graphene.
- Print supplied 54% of 2024 revenue, dropping to 44% in the first half of 2025, as the group pursues subscriptions, licensing, events, archive monetization, and AI-enabled products.
- Disclosures cite $279.4 million in 2024 operating expenses, about $207 million in debt, a smaller newsroom following layoffs, and a union-approved strike as risks, with an NYSE listing targeted for 2027 under the LAT symbol.