Important Takeaways:

• Oh How the Mighty Have Fallen: The LA Times Appears to Be in a State of Imminent Collapse
• The Los Angeles Times has been around since 1881 and has survived enormous ups and downs over the past 142 years. But one thing remained constant: the LA Times could be depended on for trustworthy and timely reporting of the news
• …until now. Impending doom seems to have struck the Times, with new reports of “brutal” layoffs and exodus of senior editors
• Tuesday’s big news was that the paper will be shedding a large percentage of the newsroom staff and editors (115 people to be laid off), and two of the four remaining senior editors (ironically they came from BuzzFeed) have called it quits. This comes just a few weeks after Executive Editor Kevin Merida abruptly left, citing differences with the paper’s owner.
• No one seems to truly know what is going on, or what will come, as several employees are pointing their fingers or at the very least offering criticism at the owner, Dr. Patrick Soon-Shiong. An anonymous employee stated:
• “We have a billionaire who doesn’t understand media and thinks he can cut his way to success…”
• The critique of the leadership does not come without merit. The Times has lost roughly $30 million annually since he took over with his activist daughter, Nika Soon-Shiong. The Times is shedding editorial staff and general newsroom staff at an extremely concerning rate, whether by being laid off or outright quitting; the media giant has a historic attrition rate.

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