Video: Eli Broad Explains Why He Wants to Save the Los Angeles Times

Why exactly does Eli Broad want to save his hometown Los Angeles Times? He explains in this video clip, an excerpt from his appearance earlier this week at Manhattan’s 92nd Street Y.

As I noted before, Broad is a billionaire who can afford to bail out the paper if he really wants to. But it has become harder for him than it would have six months ago.

Forbes’s newest billionaire ranking pegs his net work at $5.2 billion, down $1.5 billion from last September.