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Articles tagged Patrick Soon-Shiong (30)

Under new owner Alden Global Capital, there’s no plan for the future. There’s just revenue extraction for as long as a generation of older newspaper subscribers live to keep paying their bills.
Despite denials, don’t be surprised if control passes from billionaire Patrick Soon-Shiong sometimes soon. But it’s not necessarily bad news.
But Patrick Soon-Shiong’s outside business dealings show the importance of disclosure — especially in an era when more important news organizations are owned by billionaires with business interests in the topics journalists cover.
After ten years of writing for Nieman Lab, Ken takes a big look back and ahead, defining the state of affairs for the troubled world of journalism.
Worse, the two left standing could be run by hedge fund guys with little interest in more than the bottom line.
The billionaire owner on unions (“I think they did the unionize thing out of desperation”), esports (“We must start fighting for the 16-year-olds all the way to the 30-year-olds, because that’s not our demographic”), and hiring the intern.
It’s a few years behind its East Coast brethren in New York and Washington. But tens of millions in new investment and ambitious digital plans are showing a path back to its former prominence — and beyond.
Tribune Publishing wants to sell at a higher price, but it will likely have trouble finding someone willing to pay it.