TheGrill 2018: “In order for the paper to survive, it has to thrive. In order to thrive, it has to be self-sustaining,” Patrick Soon-Shiong says
After billionaire Dr. Patrick Soon-Shiong paid $500 million to buy the Los Angeles Times (and the San Diego Union-Tribune) earlier this year, he says also invested close to $100 million to rebuild the paper and is hoping the company will return the investment soon.
During TheWrap’s annual media conference TheGrill, held at the SLS Hotel Beverly Hills on Oct. 1 and Oct. 2, the South Africa-born surgeon and entrepreneur talked about his upcoming plans for the Times. These include bringing back the paper’s Column One, fixing the mobile app and introducing (or reintroducing) a TV network.
“The Catholic nuns say, ‘no money, no mission’ — and it’s very true,” Soon-Shiong told TheWrap’s editor-in-chief Sharon Waxman. “This is no philanthropi...