Overview

• He announced Monday that he will take the Los Angeles Times public within the next year, opening share ownership to ordinary readers.
• He said the IPO structure will mirror the nonprofit, community-based model of the Green Bay Packers and is being devised with a partner organization.
• Under his ownership, the paper has reported annual losses of $30 million to $50 million and reduced its newsroom by over 20 percent.
• Editorial tensions flared after he blocked planned endorsements and rolled out an AI bias-analysis feature, prompting editorial resignations and about 20,000 subscription cancellations.
• He argues that democratized ownership will restore credibility and ensure the paper reflects diverse perspectives across the political spectrum.