Los Angeles Times Faces Mounting Struggles

The Los Angeles Times is grappling with significant challenges that threaten its stability, according to exclusive ADWEEK reporting. 

In 2024, the newspaper fired its editor-in-chief, lost tens of thousands of subscribers, and incurred a staggering $50 million loss. This year, the situation has worsened. 

The Times has endured two rounds of layoffs, a wave of buyouts, and the loss of thousands of valuable print subscriptions due to the Pacific Palisades wildfires. Additionally, Netflix withdrew hundreds of thousands in advertising revenue, citing “changes at the paper” as the reason.

In the latest episode of the Adspeak podcast, host Janice Min, CEO of The Ankler, joins to explore the deepening crisis at the iconic publisher and the role of its billionaire owner, Dr. Patrick Soon-Shiong, in its decline. The discussion draws on an April report that revealed unprecedented details about the Times’ financial woes.

The newspaper’s subscriber base has plummeted by roughly 10%, leaving it with approximately 335,000 total subscribers. Its digital subscribers dropped from 290,000 to 260,000 in just five months, a far cry from the ambitious goal of reaching 5 million paying readers.

The Los Angeles Times’ struggles are not isolated. Other legacy news outlets acquired by billionaires in recent years face similar difficulties. The Washington Post, under Jeff Bezos, has seen declining subscribers and revenue, while Marc Benioff’s Time struggles to maintain profitability and relevance.