Two publications: one in Los Angeles, the other in London, and both in the news.
The Los Angeles Times because its billionaire owner, South Africa‑born Patrick Soon‑Shiong, has said he plans to take the daily public; and The Economist because one of its owners, Lynn Forester de Rothschild, has agreed to sell her 26.9 percent stake to Canadian investor Stephen Smith.
Soon‑Shiong bought the LA Times in 2018 for $500 million. The paper has been reported to be losing around $5 million a year, though it is expected to break even this year, and its 2024 revenue was about $237 million.
The Economist’s largest shareholder, with roughly a 43.4 percent stake, is Italy’s Agnelli family. The group is estimated to be worth about $1 billion, and in 2025 its six‑month net profit reached roughly $20 million on revenue of about $226 million.
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