[ April 11, 2026 ]
The great threat to our Constitutional Republic can’t go down fast enough.
Stare hard at this headline as you hear that LATimes had to lay off 115 ppl from its newsroom today https://t.co/Mnyt5VGY2l
— Mike Benz (@MikeBenzCyber) January 24, 2024
LA Times slashes its newsroom by ONE FIFTH as it lays off 115 workers to try to fill $40 MILLION black hole: Biggest bloodshed in the paper’s history after publisher slammed Google and Meta for an ‘unfair usurpation’ of democracy
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- Tuesday’s mass lay offs come just months after the paper dismissed 70 staffers
- Biotech billionaire Dr. Patrick Soon-Shiong bought the paper in 2018 for $500M
- News publishers have seen major losses after Facebook moved away from news
By Germania Rodriguez Poleo For Dailymail.Com, 23 January 2024
The Los Angeles Times has slashed over a fifth of its workforce – one of the worst days in the paper’s 142-year history – as it faces $40million in revenue losses.
The paper’s owner, biotech billionaire Dr Patrick Soon-Shiong, said the loss of 115 workers was necessary as the business is losing $30million to $40million per year.
LA Times slashes its newsroom by ONE FIFTH as it lays off 115 workers to try to fill $40 MILLION black hole: Biggest bloodshed in the paper's history after publisher slammed Google and Meta for an 'unfair usurpation' of democracy https://t.co/dLo4UIlQd8 pic.twitter.com/L5Y48bPd7I
— Daily Mail Online (@MailOnline) January 23, 2024
115 employees let go by the LA Times today. Pity they didn't just shut the whole place down. pic.twitter.com/sNxWTuAFkA
— Citizen Free Press (@CitizenFreePres) January 23, 2024
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Sports Illustrated Lays Off Entire Staff, LA Times “Big Layoffs Coming”
SI appears to be gone and the LA Times is headed in that direction. Unions protest.https://t.co/CQHLdaaNBM
— Mike "Mish" Shedlock (@MishGEA) January 19, 2024
Major News Outlets Continue Losing Millions Amid Anti-Trump Coverage
By: Jon Dougherty, ,Conservative Brief, January 20, 2024:
Several major newspapers and media outlets have continued losing tens of millions of dollars per year after they were purchased by billionaires who initially believed they could turn things around financially while still maintaining a decidedly anti-Trump, anti-GOP editorial slant.
According to a report in DNYUZ, outlets like the Washington Post, the Los Angeles Times, and Time magazine are still losing millions of dollars years after being sold to billionaire benefactors, and there appears to be no sign of their financial conditions improving on the horizon.
“As the prospects for news publishers waned in the last decade, billionaires swooped in to buy some of the country’s most fabled brands. Jeff Bezos, the founder of Amazon, bought The Washington Post in 2013 for about $250 million,” DNYUZ reported. “Dr. Patrick Soon-Shiong, a biotechnology and start-up billionaire, purchased The Los Angeles Times in 2018 for $500 million. Marc Benioff, the founder of the software giant Salesforce, purchased Time magazine with his wife, Lynne, for $190 million in 2018.”
On each occasion, the newsrooms welcomed their new owners with guarded optimism, hoping that their business expertise and technological knowledge would provide solutions to the challenging puzzle of generating revenue as a digital publication, the report said.
However, it appears that the billionaires are facing challenges similar to almost everyone else. According to individuals familiar with the companies’ financial situations, Time, The Washington Post, and The Los Angeles Times all reported significant losses last year, despite substantial investments from their owners and concerted efforts to establish new sources of revenue.
ADVERTISEMENT“Wealth doesn’t insulate an owner from the serious challenges plaguing many media companies, and it turns out being a billionaire isn’t a predictor for solving those problems,” Ann Marie Lipinski, the curator of the Nieman Foundation for Journalism at Harvard University, told DNYUZ. “We’ve seen a lot of naïve hope attached to these owners, often from employees.”
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