After years of declining readership and endless newsroom cuts, the new owner of the Los Angeles Times is setting a high target in his effort to turn the company around. Biotech billionaire Patrick Soon-Shiong, who acquired the long-struggling paper in June from Tribune Publishing Co. for $500 million, said the Times needed to build its digital-subscriber base to five million paying customers.

Source: Wall Street Journal March 19, 2019 14:42 UTC