In an interview on 'The Daily Show' with Jon Stewart, Dr. Patrick Soon-Shiong said the move would allow The Times 'to be democratized and allow the public to have ownership of this paper.'

Los Angeles Times owner Soon-Shiong plans to take the newspaper public following a reported $50 million in losses, aiming to make it a voice of the people.

Shiong, the billionaire owner of the Los Angeles Times since 2018, said this week that he intends to take the newspaper public in the coming year. During an interview on Monday’s “The Daily Show With Jon Stewart,