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Biotech Mogul Behind L.A. Times Says Papers Need Government Aid

  • Patrick Soon-Shiong says tech giants should pay for articles
  • He’s also No. 2 investor in Tribune, which is weighing bids
Bloomberg business news
NantKwest's Soon-Shiong on BioTech and the Future of Newspapers

The owner of the Los Angeles Times is calling on the government to throw its support behind newspapers, saying the loss of advertising to tech companies and declining readership threaten local journalism.

“The government needs to step in a little bit,” Patrick Soon-Shiong, the billionaire biotech entrepreneur who bought the Times in 2018, said in an interview.