The owner of the LA Times said he's going to take the paper public. Billionaire investor and businessman, Patrick Soon-Shiong, said the IPO will happen over the next year.

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In an interview with Jon Stewart of The Daily Show, LA Times owner Dr. Patrick Soon-Shiong announced that the paper would be going public within the next year.

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Los Angeles Times owner Patrick Soon-Shiong announced plans to take the 143-year-old newspaper public within the next year.

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.

Patrick Soon-Shiong plans to take the Los Angeles Times public over the next year, the billionaire owner told Jon Stewart on Monday night.

(File photo) The owner of the Los Angeles Times plans to take the newspaper public in the next year, allowing it “to be democratized and allow the public to have ownership of this paper,” he said.

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