The Times’ downtown L.A. printing facility will shut down in 2024, ending a nearly 120-year run for the newspaper’s home in Downtown Los Angeles, the company announced on Tuesday.
“We are very appreciative of the long-standing readership and support of the Los Angeles Times, which we feel has enabled us to grow and evolve during this historic time in the city’s history,” the new CEO, Jonathan Weisman said in a statement.
After the paper’s ownership split with its Los Angeles-area parent Tri-City Publications, weisman assumed the Times’ top job and will take over a company that has lost nearly $70 million since January 2017.
The company’s closure is the latest in a string of losses for Los Angeles-area newspapers, which have been hit by the decline of print advertising and a growing digital ad market. The Times is in third place among Los Angeles magazines in advertising, according to a report by the Advertising Age.
The L.A. Times was founded in 1903 by a group of investors including Edward G. Doheny and William Randolph Hearst, who hoped to provide a free newspaper to Los Angeles so that residents could spread information about events in their community, as well as the city.
The newspaper was a daily until the 1940s, when the Times started producing a Sunday edition to reach out to a growing population.
In the 1960s the Times became a tabloid publication. After the Hearst family sold their newspapers in the 1970s, the Times became a daily and expanded its political coverage, offering up-to-the-minute coverage of everything from political campaigns to crime.
The daily paper is best known for its extensive political coverage, including the Pulitzer Prize-winning coverage of the Watergate scandal. Its coverage of breaking news has been compared to that of the New York Times.
While the Times’ staff has consistently reported on the Democratic and Republican National Conventions, the paper’s
