Los Angeles Times in a ‘State of Mayhem’

CNN: “Beyond the drastic cuts hanging over the newsroom, it’s unclear what Patrick Soon-Shiong is doing behind the scenes to stable his ship. The biotech billionaire purchased The LAT in 2018, pouring nearly $1 billion into the storied paper and vowing to steer it into the future after enduring years of tumult under Tribune Publishing.”

“But in the words of the newspaper’s own leadership team, years later under his stewardship it is in a dire state of ‘financial crisis.’