Overview

• Patrick Soon-Shiong’s press release on Tuesday details a Regulation A financing capped at $75 million to combine the Times with related ventures under the L.A. Times Next Network.
• The Reg A structure lets the paper seek retail investment and issue shares with lighter disclosure requirements compared with a traditional IPO.
• He plans to launch the public offering within the next year to expand reader equity and governance roles while retaining controlling ownership.
• The proposal comes after the Times reported multi-million-dollar losses, digital subscriber shortfalls and a one-fifth newsroom staff cut.
• Earlier controversies over endorsement blocks, editorial board conflicts and leadership departures have heightened calls for more transparent governance.