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Dr. Patrick Soon-Shiong, new owner of the Los Angeles Times, visits the downtown L.A. newsroom with Assistant Business Editor Andrea Chang in April. (Irfan Khan / Los Angeles Times) But those big ambitions will require a heavy investment at a troubled time for the industry. “I don’t think he’s looking to make a lot of money, but he’s certainly going to run it as a business,” said Pearlstine. “He does feel like there is content that people will pay for.” Ravaged by the flight of advertising dollars to the internet, newspapers across the country have slashed news pages and journalists as department stores, car dealerships and other advertisers trim their ad buys because their customers, too, are flocking to online sites. Classified ads once buoyed the industry but have largely disappeared. Advertising revenue for newspapers in the U.S. peaked in 2005 at nearly $50 billion but had tumbled to less than $17 billion by last year, according to consulting firm PwC. Recent tariffs imposed by the Trump administration have increased the cost of newsprint produced in Canada. Self-inflicted wounds by The Times’ then-parent company, which also owns the Chicago Tribune, Baltimore Sun and Orlando Sentinel, were particularly damaging.
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The escalating allegations come as prosecutors in Los Angeles are reviewing a potential charge against the actor, while authorities in New England are also examining sexual battery allegations. The Metropolitan police, while not naming Spacey, outlined the allegations contained in three new reports its detectives have taken this year. A man on Feb. 8 reported an allegation of sexual assault in 2008 in Lambeth. Six days later, another man reported a sexual assault in 2013 in Gloucester. Then on April 17, police received an allegation of a sexual assault said to have occurred in 1996 in Westminster. Spacey, 58, the former artistic director of the Old Vic theater, based in Lambeth, was already the subject of three investigations involving alleged sexual assaults in 2005 and 2008 in that London borough and another in 2005 in Westminster. The Old Vic said it had received 20 allegations of inappropriate behavior involving Spacey. Meanwhile, the Los Angeles County district attorney’s office is continuing to review a sexual abuse allegation against him. The L.A. County Sheriff’s Department Special Victims Bureau began an investigation an alleged sexual assault involving Spacey on Dec 11, 2017, according to Sheriff’s Department spokeswoman Nicole Nishida.
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