LA Times Reveals ‘Catastrophic’ $50 Million Revenue Loss in 2020 (Exclusive)

Company announced revenues shortfalls at LA flagship paper and San Diego Union-Tribune

The Los Angeles Times and the San Diego Union-Tribune lost “north of $50 million” in revenue in 2020, company leadership told staffers at an all-hands meeting on Thursday.

Chris Argentieri, the president of the two papers’ California Times parent company, described the losses as a “catastrophic drop in revenue for the company north of $50 million on top of a business that was already using cash and not producing cash,” according to a recording of the meeting obtained by TheWrap.

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J. Clara Chan

Media and politics reporter • jclara.chan@thewrap.com • Twitter: @jclarachan