Last year, the Times made a deal to print the Wall Street Journal locally that resulted in the Times having to back up its deadline for the front section of the newspaper to the early evening to accommodate the WSJ press run.
In order to get news that happens after, oh, 5 pm into the LA paper, the Times added a new section, which it called LATEXTRA, for those stories.
As a result, the "traditional" front page tends to be dominated by staff-driven feature and investigative pieces while the actual breaking news ends up in LATEXTRA. (It has to be in all caps to work the pun between LAT-Extra and Late-xtra. LAT being the acronym for the Los Angeles Times.)
So, ultimately, this ad is a sell-out of a sell-out. How very meta.