Los Angeles Times Moves Closer to a Public Stock Offering

Supported by

The company, which says it plans an initial public offering next fall, announced on Thursday that it would seek to raise up to $500 million selling private shares to investors.

By Katie Robertson

The Los Angeles Times will begin selling shares to certain investors as it moves closer to an initial public offering, its owner, the billionaire Patrick Soon-Shiong, said on Thursday.

The company announced a so-called private placement seeking to raise up to $500 million for the newly created Los Angeles Times Media Group, which includes the newspaper as well as LA Times Studios and two of Dr. Soon-Shiong’s other businesses: the virtual production company NantStudios and the gaming and esports studio NantGames.