Latest news with #ownership
CTV News
an hour ago
- Business
- CTV News
Billionaire owner of the Los Angeles Times says he will take the newspaper public in the coming year
LOS ANGELES — Dr. Patrick Soon-Shiong, the billionaire owner of the Los Angeles Times since 2018, said this week that he intends to take the newspaper public in the coming year. During an interview on Monday's 'The Daily Show With Jon Stewart,' Soon-Shiong said the move would allow the Times 'to be democratized and allow the public to have ownership of this paper.' Soon-Shiong said he's working with 'an organization that's putting that together right now.' He didn't identify the organization or say whether the deal would involve an initial public offer to sell shares of the company or another investment arrangement. 'Whether you're right, left, Democrat, Republican, you're an American. So the opportunity for us to provide a paper that is the voices of the people, truly the voices of the people, is important,' he said. Soon-Shiong, a biotech billionaire, acquired the Times as part of a $500 million deal, returning it to local ownership two decades after the Chandler family sold it to Tribune Co. Soon-Shiong's purchase raised hopes after years of cutbacks, circulation declines and leadership changes. But like much of the media industry, the Times has continued to face financial difficulties, losing money and subscribers. Last year the company said it would lay off at least 115 employees — more than 20% of the newsroom — in one of the largest staff cuts in the newspaper's history. At the time, the news organization said it had fallen well short of its digital subscriber goals and needed a revenue boost to sustain the newsroom and its digital operations. In January 2024, executive editor Kevin Merida suddenly stepped down after a 2 1/2-year tenure at the newspaper that spanned the coronavirus pandemic and three Pulitzer Prizes, as well as a period of layoffs and contentious contract negotiations. Then in October, the editorials editor resigned after Soon-Shiong blocked the editorial board's plans to endorse Democratic Vice President Kamala Harris for president. Mariel Garza told the Columbia Journalism Review in an interview that she quit because the Times was remaining silent on the contest in 'dangerous times.'
Yahoo
5 hours ago
- Business
- Yahoo
Billionaire owner of the Los Angeles Times says he will take the newspaper public in the coming year
LOS ANGELES (AP) — Dr. Patrick Soon-Shiong, the billionaire owner of the Los Angeles Times since 2018, said this week that he intends to take the newspaper public in the coming year. During an interview on Monday's 'The Daily Show With Jon Stewart,' Soon-Shiong said the move would allow the Times 'to be democratized and allow the public to have ownership of this paper.' Soon-Shiong said he's working with 'an organization that's putting that together right now.' He didn't identify the organization or say whether the deal would involve an initial public offer to sell shares of the company or another investment arrangement. 'Whether you're right, left, Democrat, Republican, you're an American. So the opportunity for us to provide a paper that is the voices of the people, truly the voices of the people, is important,' he said. Soon-Shiong, a biotech billionaire, acquired the Times as part of a $500 million deal, returning it to local ownership two decades after the Chandler family sold it to Tribune Co. Soon-Shiong's purchase raised hopes after years of cutbacks, circulation declines and leadership changes. But like much of the media industry, the Times has continued to face financial difficulties, losing money and subscribers. Last year the company said it would lay off at least 115 employees — more than 20% of the newsroom — in one of the largest staff cuts in the newspaper's history. Also in 2024, executive editor Kevin Merida suddenly stepped down after a 2 1/2-year tenure at the newspaper that spanned the coronavirus pandemic and three Pulitzer Prizes, as well as a period of layoffs and contentious contract negotiations.
The Independent
5 hours ago
- Business
- The Independent
Billionaire owner of the Los Angeles Times says he will take the newspaper public in the coming year
Dr. Patrick Soon-Shiong, the billionaire owner of the Los Angeles Times since 2018, said this week that he intends to take the newspaper public in the coming year. During an interview on Monday's 'The Daily Show With Jon Stewart,' Soon-Shiong said the move would allow the Times 'to be democratized and allow the public to have ownership of this paper.' Soon-Shiong said he's working with 'an organization that's putting that together right now.' He didn't identify the organization or say whether the deal would involve an initial public offer to sell shares of the company or another investment arrangement. 'Whether you're right, left, Democrat, Republican, you're an American. So the opportunity for us to provide a paper that is the voices of the people, truly the voices of the people, is important,' he said. Soon-Shiong, a biotech billionaire, acquired the Times as part of a $500 million deal, returning it to local ownership two decades after the Chandler family sold it to Tribune Co. Soon-Shiong's purchase raised hopes after years of cutbacks, circulation declines and leadership changes. But like much of the media industry, the Times has continued to face financial difficulties, losing money and subscribers. Last year the company said it would lay off at least 115 employees — more than 20% of the newsroom — in one of the largest staff cuts in the newspaper's history. Also in 2024, executive editor Kevin Merida suddenly stepped down after a 2 1/2-year tenure at the newspaper that spanned the coronavirus pandemic and three Pulitzer Prizes, as well as a period of layoffs and contentious contract negotiations.
Yahoo
2 days ago
- Business
- Yahoo
Berjaya Food Berhad's (KLSE:BJFOOD) largest shareholders are public companies with 59% ownership, individual investors own 14%
Key Insights Significant control over Berjaya Food Berhad by public companies implies that the general public has more power to influence management and governance-related decisions 57% of the company is held by a single shareholder (Berjaya Corporation Berhad) 10% of Berjaya Food Berhad is held by Institutions Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. To get a sense of who is truly in control of Berjaya Food Berhad (KLSE:BJFOOD), it is important to understand the ownership structure of the business. The group holding the most number of shares in the company, around 59% to be precise, is public companies. In other words, the group stands to gain the most (or lose the most) from their investment into the company. And individual investors on the other hand have a 14% ownership in the company. Let's delve deeper into each type of owner of Berjaya Food Berhad, beginning with the chart below. See our latest analysis for Berjaya Food Berhad What Does The Institutional Ownership Tell Us About Berjaya Food Berhad? Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. Berjaya Food Berhad already has institutions on the share registry. Indeed, they own a respectable stake in the company. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Berjaya Food Berhad, (below). Of course, keep in mind that there are other factors to consider, too. Berjaya Food Berhad is not owned by hedge funds. The company's largest shareholder is Berjaya Corporation Berhad, with ownership of 57%. This implies that they have majority interest control of the future of the company. In comparison, the second and third largest shareholders hold about 4.9% and 4.1% of the stock. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. Insider Ownership Of Berjaya Food Berhad The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. We can report that insiders do own shares in Berjaya Food Berhad. In their own names, insiders own RM21m worth of stock in the RM505m company. It is good to see some investment by insiders, but we usually like to see higher insider holdings. It might be worth checking if those insiders have been buying. General Public Ownership The general public-- including retail investors -- own 14% stake in the company, and hence can't easily be ignored. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies. Private Company Ownership Our data indicates that Private Companies hold 9.4%, of the company's shares. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company. Public Company Ownership It appears to us that public companies own 59% of Berjaya Food Berhad. This may be a strategic interest and the two companies may have related business interests. It could be that they have de-merged. This holding is probably worth investigating further. Next Steps: While it is well worth considering the different groups that own a company, there are other factors that are even more important. For instance, we've identified 1 warning sign for Berjaya Food Berhad that you should be aware of. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Berjaya Food Berhad's (KLSE:BJFOOD) largest shareholders are public companies with 59% ownership, individual investors own 14%
Key Insights Significant control over Berjaya Food Berhad by public companies implies that the general public has more power to influence management and governance-related decisions 57% of the company is held by a single shareholder (Berjaya Corporation Berhad) 10% of Berjaya Food Berhad is held by Institutions Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. To get a sense of who is truly in control of Berjaya Food Berhad (KLSE:BJFOOD), it is important to understand the ownership structure of the business. The group holding the most number of shares in the company, around 59% to be precise, is public companies. In other words, the group stands to gain the most (or lose the most) from their investment into the company. And individual investors on the other hand have a 14% ownership in the company. Let's delve deeper into each type of owner of Berjaya Food Berhad, beginning with the chart below. See our latest analysis for Berjaya Food Berhad What Does The Institutional Ownership Tell Us About Berjaya Food Berhad? Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. Berjaya Food Berhad already has institutions on the share registry. Indeed, they own a respectable stake in the company. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Berjaya Food Berhad, (below). Of course, keep in mind that there are other factors to consider, too. Berjaya Food Berhad is not owned by hedge funds. The company's largest shareholder is Berjaya Corporation Berhad, with ownership of 57%. This implies that they have majority interest control of the future of the company. In comparison, the second and third largest shareholders hold about 4.9% and 4.1% of the stock. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. Insider Ownership Of Berjaya Food Berhad The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. We can report that insiders do own shares in Berjaya Food Berhad. In their own names, insiders own RM21m worth of stock in the RM505m company. It is good to see some investment by insiders, but we usually like to see higher insider holdings. It might be worth checking if those insiders have been buying. General Public Ownership The general public-- including retail investors -- own 14% stake in the company, and hence can't easily be ignored. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies. Private Company Ownership Our data indicates that Private Companies hold 9.4%, of the company's shares. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company. Public Company Ownership It appears to us that public companies own 59% of Berjaya Food Berhad. This may be a strategic interest and the two companies may have related business interests. It could be that they have de-merged. This holding is probably worth investigating further. Next Steps: While it is well worth considering the different groups that own a company, there are other factors that are even more important. For instance, we've identified 1 warning sign for Berjaya Food Berhad that you should be aware of. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
