There was a report in The Intersect, a Substack from Joe Bel Bruno “where Wall Street and Hollywood collide,” on Sunday that Jay Penske is in “early talks” to buy the Los Angeles Times. The Penske Media Corporation is a serious player. It owns The Hollywood Reporter, Rolling Stone and Variety.
So, is this talk of a sale true or just a rumor?
We’ve been down this road before — rumors of a Times sale, denials by the owner and then, true to the owner’s word, no sale.
Let’s get to the denial. Times owner Patrick Soon-Shiong tweeted early Monday, “Fake news (if you call the piece news) that we are in discussions to sell the LA Times. Completely fabricated. We are committed to grow this most important newspaper on the West Coast and the journalistic need to speak truth to power.”
And there’s this, too: The Los Angeles Times communications department put out a tweet that said, “This is not true. The Soon-Shiongs have no interest in selling the L.A. Times.”
These seem like strong denials. And it seems notable that Soon-Shiong felt the need to comment publicly, perhaps sending a signal more to his staff than outsiders.
Also, CNN’s Oliver Darcy reported that a Times spokesperson told him, “There is no truth to it, and there are no talks. Soon-Shiong met with Penske to discuss the Los Angeles Times (not a deal per se) more than five years ago — before the Soon-Shiongs acquired the Los Angeles Times — and they have not met since. The Soon-Shiongs have no interest in selling the Los Angeles Times.”
Just last week, Soon-Shiong sold The San Diego Union-Tribune to Alden Global Capital.
Joshua Benton wrote about all this for Nieman Lab: “The Los Angeles Times is definitely either for sale or not for sale.”
As Benton notes, you can look at the sale of the San Diego paper two ways. One is that selling off the Union-Tribune means focusing on the Times — that’s what Soon-Shiong said when the sale was announced. Or, selling off the Union-Tribune could be a precursor to a Times sale. Either way, selling the Union-Tribune to Alden doesn’t seem like good news journalistically.
Now, as I said, this isn’t the first time we’ve heard rumors about Soon-Shiong selling the Times. The Wall Street Journal reported in February 2021 that the Times’ owners were exploring a sale. Obviously, that never came to fruition.
Like Benton, I’m not familiar with the work of the person who wrote the story for The Intercect. That’s not to say his sources or story is wrong, but it also should be noted that no other media outlets have been reporting that there are any negotiations going on. The Intercect story also says the deal “is not guaranteed as these are described as early talks.”
But Benton also wrote, “The reality of the Times’ ownership situation is known to only a few people. But if, as seems likely, there is some sort of transition to Penske, that would make me more optimistic about its future, not less. A billionaire owner is nice — but so is a solid digital media company.”
I’m skeptical that Soon-Shiong is looking to sell, but thought the report was worth mentioning.
A statewide publication grows in Louisiana
For this item, I turn it over to my colleague Rick Edmonds, Poynter’s media business analyst.
Georges Media Group expanded into a fourth Louisiana city Monday with the launch Monday of the digital Shreveport-Bossier City Advocate. Other Georges holdings are The Times-Picayune/NOLA.com in New Orleans, The Advocate in Baton Rouge, and the Acadiana Advocate in Lafayette.
That gives the company, headed by food distribution millionaire John Georges and his wife Dathel Coleman Georges, a presence in the state’s four largest cities.
The new digital report will begin with 10 locally based news staffers. In a press release, the company’s vice president of news, Rene Sanchez, said, “Leaders across Shreveport and Bossier City have told us how much they value (local news) and how much it’s missing. Our plan is to provide in-depth local news from a team of journalists who care about this community.”
Shreveport, like Lafayette, is served by a daily publication owned by Gannett. Spokesperson Lark-Marie Antón declined to provide staffing numbers but said in an e-mail, “For more than 150 years, the Shreveport Times has covered the Shreveport-Bossier area, and we remain committed to providing readers with trusted news and content.”
The move is part of a trend in which financially strong local publications are branching out statewide. The Post and Courier in Charleston, South Carolina, distributes and has small bureaus in Columbia, Greenville and Myrtle Beach. The Star Tribune in Minneapolis covers northern Minnesota with an operation in Duluth.
Because it’s the right thing to do
Over the weekend, during an interview with Maria Bartiromo on Fox News, Donald Trump didn’t commit to participating in the first Republican presidential debate next month. He said he hadn’t made up his mind, but also said, basically, that he has such a big lead in the polls that it makes no sense for him to debate anyone.
But Fox News’ John Roberts, on “America Reports,” gave a good reason why Trump should participate.
“Because it’s the democratic process,” Roberts said. “You want voters to get a look at all the candidates, and if you want to prove that you’re the candidate that they should vote for, let’s see how you react to the questions that are being asked.”
Mediaite’s Ken Meyer has more, including a clip.
Big changes at Politico
John Harris, who co-founded Politico in 2007, is returning to the newsroom as Politico’s new global editor-in-chief. He will take over for Matt Kaminski, who will finish up his role as editor-in-chief at the end of August to become an editor at large, concentrating on writing.
Harris had been editor-in-chief until he stepped down in 2019. Since then, he has been chair of Politico’s advisory board.
In a memo, Politico’s chief executive, Goli Sheikholeslami, said, “To be clear: John is not returning to a job he once had. To the contrary, he is stepping into a new role as the single top editorial executive in the company, with newsrooms in the United States and Europe reporting to him.”
Sheikholeslami said Harris’ return to the newsroom “marks a significant moment for our company.”
In an interview with The Washington Post’s Jeremy Barr, Harris said, “There are really cool opportunities in front of us, and I found myself interested in them, curious about them, and passionate about them in ways that I haven’t felt in a long, long time. I am more interested in the place and its future than I have been for a while.”
About Kaminski, Sheikholeslami wrote, “He will produce his own journalism, contributing regular pieces on American and global affairs, and representing the publication where needed. He is eager to re-engage that side of his professional life that first established him as one of his generation’s top journalists and delivering for our readers his unique perspective and wit. I have also asked him to continue to serve as a strategic adviser to me on our global ambitions.”
The New York Times’ Benjamin Mullin and Katie Robertson wrote, “The change is the latest to the top ranks of Politico. In March, the executive editor, Dafna Linzer, who reported to Mr. Kaminski, stepped down after a year in the job. Mr. Kaminski acknowledged in an email to staff at the time that he and Ms. Linzer ‘saw ourselves diverging’ over Politico’s strategic direction.”
Media tidbits
Fox News’ evening lineup from left to right: Laura Ingraham, Jesse Watters, Sean Hannity and Greg Gutfeld. (AP Photo)
- Speaking of Fox News, its new nighttime lineup of Laura Ingraham (7 p.m. Eastern), Jesse Watters (at 8 p.m. in Tucker Carlson’s old timeslot), Sean Hannity (9 p.m.) and Greg Gutfeld (10 p.m.) debuted Monday night. Here’s a rather friendly piece about Watters and his new show from Bryan Alexander of USA Today.
- NBC News senior White House correspondent Kelly O’Donnell has been chosen as the new president of the White House Correspondents’ Association.
- Zinhle Essamuah has been named co-anchor (alongside Kate Snow) for the 2 to 4 p.m. Eastern slot of “NBC News Daily” on NBC News NOW, the network’s streaming service.
- CNN’s Larry Madowo with “Laid-off Twitter Africa team ‘ghosted’ without severance pay or benefits, former employees say.”
- HBO announced that the new season of “Hard Knocks” will debut Aug. 8. The five-part series, which features a behind the scenes look at an NFL training camp, is featuring the New York Jets and new quarterback Aaron Rodgers this season.
- Axios Local has launched another newsletter. This one will be in San Diego, making it the 30th local newsletter that Axios Local now publishes. The San Diego newsletter debuts next Monday and will co-authored by reporters Kate Murphy and Andrew Keatts.
- Heather Knight has been named San Francisco bureau chief for The New York Times. Knight worked at the San Francisco Chronicle for nearly two decades, covering city hall. She had been a city columnist since 2017.
- Fortune’s Aden Ikram writes about NewsNation in “Meet the little-known cable TV network that’s cashing in on renewed interest in UFOs.”
- ESPN baseball writer Jeff Passan announced on Twitter on Monday that he suffered a broken back when a tree limb fell on him while cleaning up from the storms that hit Kansas City over the weekend. But he said he’s hard at work as the Major League Baseball trade deadline approaches. He said, “My back may be shot, but my phone still works.”
- The New York Times’ Penelope Green with “Sally Kempton, Rising Star Journalist Turned Swami, Dies at 80.”
Hot type
- The Atlantic’s Elizabeth Bruenig with “Alabama Wants to Kill Jimi Barber.”
- Read New York Times sports stories while you can. Here’s another good one from John Branch (with photographs and video by Adam Stoltman): “A Long, Shining River of Verse, Flowing From a Rower and Writer.”
- And here’s another: baseball writer Tyler Kepner with “Honoring the Last of the ‘Boys of Summer.’”
More resources for journalists
- Subscribe to Poynter’s Friday newsletter, Open Tabs with Poynter managing editor Ren LaForme, and get behind-the-scenes stories only available to subscribers.
- Sign up for Beat Academy (Now-Oct. 19) (Webinar series) — You’ll get tips, sources, inspiration and ideas to cover emerging newsroom beats. Enroll now.
- Executive Leadership Summit (Oct. 2023) (Seminar) — Apply by Aug. 14.
- Power of Diverse Voices: Writing Workshop for Journalists of Color (Nov. 15-18) (Seminar) — Apply by Sept. 15.
Have feedback or a tip? Email Poynter senior media writer Tom Jones at tjones@poynter.org.
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