Patrick Soon-Shiong, the owner of the Los Angeles Times, has announced a plan to take the newspaper public by next year.

In a taped interview on “The Daily Show” with Jon Stewart broadcast Monday, Soon-Shiong said the move would allow the paper “to be democratized and allow the public to have the ownership of this paper.”

Asked when the plan will move ahead, Soon-Shiong replied: “We think over the next year.”

He added, “I’m working through with an organization that’s putting that together right now.”

He did not offer any further details on the move, but suggested the plan would mirror the ownership structure of the Green Bay Packers, the Wisconsin-based non-profit football team.

Soon-Shiong bought the Times in 2018 from Tronc Inc. for $500 million as part of a deal that also saw him acquire The San Diego Union-Tribune, which he has since sold to MediaNews Group.

During the interview, Soon-Shiong emphasized his vision for the Times.

“It’s important for the paper to have voices of all, and that’s what I wanted to do,” he said. “Whether you’re right, left, Democrat, Republican, you’re an American.”

The tycoon’s ownership has come under scrutiny over a slew of recent decisions, including his call to block the paper’s endorsement of former Vice President Kamala Harris in the 2024 election, infuriating readers and prompting the resignation of its editorials editor. Soon-Shiong instead proposed having the editorial board “draft a factual analysis of all the POSITIVE AND NEGATIVE policies by EACH candidate,” an idea which the board objected to.

In an interview with CNN following the controversy, Soon-Shiong claimed the paper’s board “veered very left,” saying there was a need to balance it out.