The Los Angeles Times newspaper is preparing to go public by raising as much as $500 million in preferred stock ahead of a smaller initial public offering in 2027.
A newly created entity, including the newspaper and other digital assets known as the LA Times Media Group, is selling preferred shares paying 7% annual interest in a private offering restricted to accredited investors, with a minimum investment of $5,000, according to a statement Friday. The shares are expected to be convertible into common stock in a potential Regulation A IPO, at a 25% discount to the IPO price.
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