Timing is everything. Just a few days before this week’s LA Weekly article “Who Will Buy the LA Times?” by Hillel Aron, CNBC broke the news that JPMorgan and Evercore will be handling the sale of the paper and other Tribune Co. assets.
That context gives the piece some extra urgency, and from this excellent bit of work by Aron, we were most struck by the following:
Richest Man in LA vs. Richest Man in the World: Aron references Patrick Soon-Shiong (pictured) in connection with former mayoral candidate Austin Beutner’s effort to put together a stealth group of combined LAT buyers. Surprisingly (at least to us), nowhere in the article does Carlos Slim come up, the man responsible for the relaunch of Larry King and much more. Aron confirms to FishbowlLA that it was not a case of being edited out; “no one ever mentioned Slim,” the writer says.
Two Shades of WSJ: The article characterizes Rupert Murdoch as the man who could potentially outbid everyone, with media expert Ken Doctor telling Aron the Wall Street Journal owner remains the odds-on favorite to acquire the newspaper. Doctor also thinks the two publications’ editorial and ad operations could be streamlined in a number of intriguing ways.
Which is perhaps ironic, because Aron also reminds that Times publisher and Tribune Co. CEO Eddie Hartenstein took a lot of flack internally for his decision to allow the Journal to print at the LAT, bumping the paper’s daily schedule down and “ruining its time-zone advantage over east coast papers.”