FTA: “The L.A. Times is still the largest paper in California and one of the largest in the U.S.”
It may be still one of the largest but like the Washington Post it loses $100 million per year. It was bailed out of oblivion by a billionaire as was the NYT and the Washington Post.
Though the owner is a billionaire he doesn’t have resources of Carlos Slim or Jeff Bezos and will probably end up selling it for a dollar like Newsweek was.
These newspapers are de facto political contributions to the Democratic Party.
Each billionaire has to figure out if the cost/benefit is there for their bribery.