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Details of 'LA Times Stream' to be revealed this week: Owner

Julie Hyman
·Host

Los Angeles Times owner Patrick Soon-Shiong says he plans to announce "this week" a new publishing outfit within the organization called "LA Times Stream." He credits the streaming of the Los Angeles Times Festival of Books as a successful test of the product.

"We actually have to find innovative ways to become a media platform, not just a newspaper," Soon-Shiong explains to Yahoo Finance's Julie Hyman.

Soon-Shiong says that companies like Google (GOOGL, GOOG) are "usurping all the ad money" that traditional news outlets receive, necessitating new sources of revenue.

Be sure to watch the full interview with Dr. Patrick Soon-Shiong, where he discusses the FDA's approval of ImmunityBio's (IBRX) bladder cancer therapy.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Stephanie Mikulich.