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Business Insider
9 hours ago
- Business
- Business Insider
South African-born billionaire moves to float one of America's largest news brands
South African-born billionaire Patrick Soon-Shiong has revealed plans to take one of the United States' most prominent news organizations public within the next year, marking a significant shift in the American media landscape. South Africa's Patrick Soon-Shiong plans to take The Los Angeles Times public within the next year. The move would make the publication one of few publicly-traded major news organizations. The IPO represents an effort to reshape legacy media strategies in the digital era. If the initial public offering proceeds, The Los Angeles Times would join the ranks of major publicly traded news organizations such as its former parent, Tribune Publishing Co., and The New York Times Co., according to Business Tech. The move would offer investors a rare opportunity to own a stake in one of California's oldest and most influential media institutions, situated in the wealthiest state in the U.S. ' We'll allow it to be democratized and allow the public to have ownership of this paper, ' Soon-Shiong said during an appearance on The Daily Show. Soon-Shiong mentioned that he is collaborating with an organization currently developing the plan, adding that the new structure would be rolled out over the coming year. However, he did not provide further details. Acquisition The billionaire surgeon, biotech entrepreneur, and media investor acquired the Los Angeles Times in 2018 through his investment firm, Nant Capital, in a deal valued at $500 million. Since then, he has worked to stabilize the newsroom following a turbulent period under previous ownership, which had been marred by editorial conflicts and staff dissatisfaction. Soon-Shiong's announcement signals a new chapter for the publication, which has seen major digital and structural reforms under his stewardship. If the IPO proceeds, the outlet would join The New York Times Co. and the former Tribune Publishing Co. on public markets, potentially reshaping investor interest in legacy media brands navigating the digital age. Political affiliation The South African-born billionaire has not hidden his affiliation with U.S. President Donald Trump, a relationship that became increasingly evident during the election campaigns. Last year, he reportedly urged the newspaper's editorial board to 'take a break' from covering Trump and blocked the board from endorsing Kamala Harris for president. The decision sparked internal turmoil, leading to multiple resignations from the editorial board and a wave of subscription cancellations from readers who viewed the move as editorial interference. Soon-Shiong later defended his actions, stating that he feared an endorsement would deepen political divisions in an already polarized country. He added that his long-term vision was to steer the publication toward becoming a more 'fair and balanced' news outlet.
Yahoo
a day ago
- Politics
- Yahoo
Dear Grandma: Trump took your Medicaid, so it's time for you to work the fields
The Trump administration is cutting $1 trillion from Medicaid over the next decade while ruthlessly deporting hardworking migrants and decimating America's agricultural workforce, but don't worry. Republicans have a sensible plan: Your grandma is going to have to work the fields. Agriculture Secretary Brooke Rollins presented her farm-work-for-Medicaid-coverage plan on July 8, Tuesday, saying: 'There will be no amnesty. The mass deportations continue, but in a strategic way, and we move the workforce toward automation and 100% American participation, which, again, with 34 million people, able-bodied adults on Medicaid, we should be able to do that fairly quickly.' Staff farms with Medicaid recipients – it's the Republican way The Los Angeles Times quoted Ventura County citrus and avocado farmer Helen McGrath responding to Rollins' idea: 'I can confidently say that most farmers in the country either laughed out loud or were just deflated by those comments. It just shows how uninformed and out of touch some of these officials are with what food production looks like in this country.' Oh yeah, Farmer McGrath. What exactly do you know about 'farming' and 'forcing people to work on farms in exchange for basic health care'? Opinion: Did Donald Trump eat Jeffrey Epstein's client list? Logic suggests he did. Republicans always want to believe 'able-bodied' people are on the dole Some might quibble with Rollins' whole 34 million 'able-bodied adults on Medicaid" bit, largely because it's fictional. As of 2023, according to KFF, there were about 26 million working-age adults on Medicaid who weren't getting Supplemental Security Income or Social Security Disability Insurance. Of those, most are not working because they're in school, have a disability or are caregivers. Only 8% are either retired or unable to find work. So that would be about 2 million able-bodied adults on Medicaid. But what does math know about numbers? I'm going to take Secretary Rollins' word for it and assume it's high time meemaw and peepaw got off the Medicaid dole and into the tomato fields. Your Turn: Medicaid handouts only create dependency. Able-bodied adults should work. | Opinion Forum Since it will undoubtedly be hard for some to let their loved ones know they must transition from a popular government-funded program that provides health insurance to help low-income individuals and families to working long hours in the sweltering heat, harvesting fruits and vegetables, I've prepared a form letter. This can be modified to fit the specifics of your soon-to-be-booted-off-Medicaid-so-billionaires-can-get-tax-breaks family member. I'm sure you'll find it a dignified way to teach them they need to earn their keep. A letter telling your loved ones they now have to do farm work for Medicaid Dear Grandma: I hope this note finds you and everyone at the Sleepy Pines Adult-Living Facility doing well and enjoying the free health insurance my tax dollars are buying you. Unfortunately, I have to tell you the gig is up. Because the Trump administration has deemed you able-bodied, the health insurance allowing you to live with a modicum of dignity will now be contingent on how well you handle a rake and how many bushels of apples you fill per day. Please don't start telling me about your arthritis. You're able to play canasta with your one good hand, so I'm pretty sure you can handle 10 hours of picking oranges as long as we give you a hat and a wagon for your oxygen tank. I realize you are technically 'retired' and worked and paid taxes all your life, but it's high time you stopped using chronic kidney disease and blindness as an excuse to get free health insurance. I know if this situation were reversed, you'd be telling me to lift myself up by the bootstraps and get out in the shadeless fields. It's what Grandpa would have wanted had he not worked in the mines well past his retirement age and died of emphysema, penniless. Opinion alerts: Get columns from your favorite columnists + expert analysis on top issues, delivered straight to your device through the USA TODAY app. Don't have the app? Download it for free from your app store. There are important people out there, like billionaires Elon Musk and our great President Donald Trump, and they all deserve tax breaks and a chance to be mean to immigrants. If that means sending you, my beloved grandma, to harvest lettuce that those fine men will one day drizzle with expensive balsamic vinegar, then so be it. They need their roughage, and you need to stop sitting around on your fancy broken mobility scooter and start lugging farming equipment and getting your one good hand calloused. Please be ready to report to the farms on Monday morning. Love, INSERT NAME HERE Follow USA TODAY columnist Rex Huppke on Bluesky at @ and on Facebook at You can read diverse opinions from our USA TODAY columnists and other writers on the Opinion front page, on X, formerly Twitter, @usatodayopinion and in our Opinion newsletter. This article originally appeared on USA TODAY: Trump's farm work for Medicaid plan sends grandma to fields | Opinion Solve the daily Crossword
Yahoo
4 days ago
- Politics
- Yahoo
Newsom responds after court blocks indiscriminate immigration stops in California
SACRAMENTO, Calif. (FOX 5/KUSI) — A federal court on Friday temporarily halted immigration enforcement tactics in several California counties that were challenged as unconstitutional, drawing swift praise from Governor Gavin Newsom. The ruling in Vasquez Perdomo, et al. v. Noem temporarily bars federal immigration agents from conducting suspicionless stops in Los Angeles, Riverside, San Bernardino, Orange, Ventura, Santa Barbara and San Luis Obispo counties (per The Los Angeles Times)—an approach critics say has led to racial profiling and violations of civil rights. In a statement released by the Governor's Office on Friday, Newsom hailed the decision as a victory for justice and constitutional protections. Worker to be removed from life support after suffering injury during California farm raid 'Justice prevailed today [Friday, July 11] — the court's decision puts a temporary stop to federal immigration officials violating people's rights and racial profiling,' stated the governor. Newsom directly criticized immigration policies tied to White House Deputy Chief of Staff for Policy, Stephen Miller, calling his agenda 'one chaos, cruelty and fear.' 'Instead of targeting the most dangerous people, federal officials have been arbitrarily detaining Americans and hardworking people, ripping families apart, and disappearing people into cruel detention to meet outrageous arrest quotas without regard to due process and constitutional rights that protect all of us from cruelty and injustice,' Newsom asserted. 'That should stop now.' The lawsuit alleges that federal agents conducted stops without probable cause, disproportionately targeting Latino communities and violating due process. 'California stands with the law, and the foundation upon which our founding fathers built this country,' declared the Golden State governor. 'I call on the Trump administration to do the same.' The court's temporary block is the latest development in the broader legal battle over immigration enforcement practices in sanctuary jurisdictions like 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Solve the daily Crossword
Yahoo
6 days ago
- Yahoo
Dad of crypto king mysteriously vanished in LA. Then ‘creepy texts' from him started to arrive in the family group chat
Suspicious text messages on a family group chat have sparked an investigation into the disappearance of the father of a well-known crypto investor – with relatives fearing he may have been kidnapped. Naiping Hou, 74, of Rancho Cucamonga, California, was last seen on March 18. His family was alerted after the semi-retired grandpa began dodging phone calls and declining visits to see his grandchildren. Hou is the father of Wen Hou, a hedge fund and cryptocurrency investor who serves as the chief investment officer at Coincident Capital. The younger Hou told The Los Angeles Times that his father had become oddly detached on a family group chat since March, but that concerns over his father's wellbeing came to a head on his birthday on May 3. Naiping Hou had been invited to spend his birthday at his son's Las Vegas residence, but he declined. After his son sent him a birthday gift of handmade Chinese noodles, whoever was controlling the phone did not answer any calls. Instead of thanks for the gift, as they expected, a text message was sent reading simply: 'Yes I receive it.' Naiping Hou, a 74-year-old grandpa from southern California has been missing since May 4. His family was first alerted to his disappearance by strange text messages on the family group chat. ( The next morning, the family went to his home and found the noodle package still on the stoop. Inside, they said the furniture was missing and it appeared a new paint job had been done. The cars were missing from the garage, as well. Naiping Hou was in China at the time. She also received a strange text message from her husband that told her to cancel her flight home and he would join her in Asia. 'We really are devastated, really sad, and we want him back if possible,' Wen Hou told The Times. 'We are pretty upset about how this was discovered so late and a bit upset about ourselves that we didn't find these clues earlier.' San Bernardino County Sheriff's Office, which is now investigating the disappearance, confirmed they believed the elder Hou's phone was being 'used by an unknown individual(s) who impersonated him to communicate with family members.' According to police, who investigated the home on May 4, evidence was found that 'indicated Naiping may have been kidnapped.' Naiping Hou's son, crypto investor Wen Hou, has offered a reward of up to $250,000 for information leading to the safe return of his father, or the identification of those involved. A website – – has also been launched ( 'There has been unexplained and suspicious activity with Naiping's financial accounts and property; Draining of his accounts, unauthorized sales of his vehicles, gifting of items and the attempted renting of his home,' the sheriff's office said. The office added that evidence also suggested that individuals connected to the crime may have ties to both the Los Angeles area and the Inland Empire. 'The suspects are believed to be using sophisticated and deceptive tactics and are considered highly dangerous.' In addition, Wen Hou has offered a reward of up to $250,000 for information leading to the safe return of his father, or the identification of those involved. A website – – has also been launched. 'We really are devastated, really sad, and we want him back if possible,' Wen Hou told The Times. 'We are pretty upset about how this was discovered so late and a bit upset about ourselves that we didn't find these clues earlier.'
Miami Herald
14-07-2025
- Miami Herald
Off-duty Border Patrol agent drunkenly assaults cop, California officials say
An off-duty U.S. Border Patrol is accused of drunkenly assaulting a police officer while resisting arrest, California prosecutors say. Now, Isaiah Anthony Hodgson, 29, has been charged with multiple felonies in connection with the July 7 incident, the Los Angeles County District Attorney's Office said in a July 11 news release. 'The conduct exhibited by Mr. Hodgson, a border patrol agent who has the duty to uphold the law and protect its citizens, is unacceptable and deeply troubling,' District Attorney Nathan J. Hochman said in the release. 'No one is above the law, regardless of their position or badge.' A Los Angeles County Public Defender's Office spokesperson, Hodgson's legal defense, told The Los Angeles Times they 'could not immediately comment' on his charging. When asked for comment, a Department of Homeland Security spokesperson said the 'matter is under investigation' in a July 14 email to McClatchy News. Hodgson was visiting a Shoreline Village restaurant in Long Beach on July 7 when he entered the women's restroom and approached a woman, prosecutors said. The woman noticed Hodgson had a 'handgun and firearm magazine,' according to prosecutors. Shortly after the woman told the restaurant manager about the encounter, prosecutors said, Hodgson left the restaurant. Hodgson was in the restaurant's parking lot when a security guard approached him after seeing him 'holding a firearm magazine along with a firearm on his waistband,' prosecutors said. As 'firearms were not permitted on the property,' the security guard asked Hodgson to leave multiple times, prosecutors said. Long Beach police officers arrived after getting a report of a person with a gun, prosecutors said. Officers said Hodgson was 'intoxicated and unwilling to cooperate with their commands as they tried to detain him,' prosecutors said. As officers tried to arrest him, Hodgson resisted, becoming 'agitated and physical with the officers, injuring one of them,' according to prosecutors. Alyssa Baeza, public information officer with Long Beach police, described the officer's injuries from the scuffle as minor, The Los Angeles Times reported. 'As public servants, we are never off duty. How we conduct ourselves is a reflection of the agencies we serve,' Long Beach Mayor Rex Richardson said in a Facebook post. 'The behavior of this officer exemplifies a culture of complete disregard for the welfare of our community and undermines public trust.' Hodgson was charged with 'three felony counts of resisting an executive officer; one felony count of battery with injury on a peace officer; one misdemeanor count of exhibiting a concealable firearm in public; one misdemeanor count of having a concealed firearm on person; and one misdemeanor count of carrying a loaded firearm on one's person,' prosecutors said. Hodgson, who is scheduled to appear in court July 17, was released from jail custody under the conditions that he not possess any guns, not leave the state and 'attend at least three alcohol counseling meetings a week,' prosecutors said. If convicted of all charges, prosecutors said Hodgson could be sentenced up to seven years in prison.
