LA Times is wobbling

[gordo]

It’s still struggling and after just two years the owner may be bailing out.

WSJ News Exclusive | Los Angeles Times Owner Exploring Sale of Company

Billionaire biotech investor Patrick Soon-Shiong is exploring a sale of the Los Angeles Times less than three years after buying it for $500 million.

www.wsj.com

 

[smalloffsetpressexperts]

What will all the homeless people in LA use for bedding

 

[kansasquaker]

If you have to ask how much money they lose every year, you can't afford it.

 

[Mark]

I'm sure the Chinese would be happy to buy it and print their propaganda slightly unfiltered.

 

[smalloffsetpressexperts]

Good Point we can call it The Pelosi Times

 

[chriscozi]

And if the Russian mob buys it we'll call it the Trump Times.

 

[smalloffsetpressexperts]

That is a fine name, If China buys it would be The Biden Times

 

[Mark]

China Daily, a propaganda outlet of the Chinese government, has reportedly paid $19 million to American newspapers in advertisement and printing charges in the past 4 years. The story came to light, amidst growing concerns about US dailies giving intellectual cover fire to Beijing.

As per the documents filed by China Daily with the Justice Department, the Communist party mouthpiece had paid over $6 million to the Wall Street Journal (WSJ), $4.6 million to the Washington Post, $2,40,000 to Foreign Policy, $50,000 to the New York Times, $34,600 to The Des Moines Register and $76,000 to CQ-Roll Call.

Besides, spending $11 million in advertising on prominent US papers, China Daily shelled out an additional $7.6 million to The Chicago Tribune, Los Angeles Times, The Seattle Times, The Atlanta Journal-Constitution, The Houston Chronicle, and The Boston Globe for printing copies of its own paper. For instance, the Los Angeles Times reportedly received $657,523 for printing services. The Communist party-mouthpiece had also spent $2,65,822 on advertising on Twitter.