Hedge fund seeks to buy rest of Tribune Publishing
A hedge fund that owns a big stake in Tribune Publishing Co. is seeking to buy the newspaper chain behind titles including the Chicago Tribune and New York Daily News, reports Cara Lombardo, Dana Cimilluca and Lukas I. Alpert of The Wall Street Journal. Lombardo, Cimilluca and Alpert report, “Alden Global Capital LLC, which is already Tribune’s largest shareholder with […]
Zeus Technology to license its AdTech to Tribune Publishing
Zeus Technology, the industry-leading revenue platform from The Washington Post, has announced that it will license its performance AdTech to Tribune Publishing. The agreement continues a period of growth for Zeus which will now power AdTech for nearly 70 sites in the U.S. Jarrod Dicker, VP of Commercial Technology at The Post and GM of […]
Tribune Publishing to vacate offices at 5 papers
Tribune Publishing Company announced Wednesday that it is closing the newsrooms at five of them, including New York’s Daily News and The Capital Gazette in Annapolis, Maryland. However, the Orlando Sentinel in central Florida, the Morning Call in Allentown, Pennsylvania, and the Carroll County Times in Maryland will continue to be published with employees working […]
Tribune Publishing joins the pay cut trend
Tribune Publishing CEO Terry Jimenez announced a series of permanent pay cuts for non-union employees as the company battles with the economic effects of the pandemic, reports Poynter. The cuts take effect April 19. Jimenez said, “the company will permanently reduce base pay from 2% to 10% for employees who have an annual base salary […]
More journalists leave in latest buyouts offered by Tribune
The owner of The Virginian-Pilot and Daily Press newspapers including their community publications, has accepted buyouts from 20 people in its Virginia news operations as part of companywide staff reductions. According to a report by the Daily Press, among those leaving The Virginian-Pilot are sports reporter Ed Miller, news and former sports reporter Lee Tolliver, […]
Top Tribune executives to step down amid hedge fund crisis
Tribune Publishing, which owns the Chicago Tribune, New York Daily News, Baltimore Sun and other major daily papers, said Monday that CEO, Timothy Knight and non-executive chairman, David Dreier are both leaving their positions. Additionally, the publication is promoting chief financial officer Terry Jimenez to be the new CEO effective Jan. 31. Previously, Jimenez was […]
Former Tribune chairman to sell his stake to Alden Global Capital
Michael Ferro, former chairman of Tribune Publishing is all set to sell his 25 percent stake to Alden Global Capital, according to reports. This would mean even more investment by Alden into Tribune Publishing, giving it majority control over the organization. It currently owns about 32 percent. As of now, Tribune staffers are taking measures […]
Chicago Sun-Times still in publication after deal with Tribune Publishing
According to an agreement between Tribune Publishing and Sun-Times Media, the Tribune can continue printing and distributing the Chicago Sun-Times. The news was announced in an internal memo. The terms of the deals were not disclosed. “We’ve succeeded in restructuring and extending our agreement with Tribune Publishing to print and deliver the Sun-Times,” Nykia Wright, interim Sun-Times Media […]
Tribune Publishing welcomes two new board members
Tribune Publishing just increased its board size from six to eight members by appointing Dana Goldsmith Needleman and Christopher Minnetian to its board of directors. The two new appointments are effective immediately. Needleman and Minnetian are expected to stand for election at Tribune Publishing’s 2020 annual meeting. Both new appointees are representatives of funds associated […]
Tribune stock sale leaves company in a financial flux
In buying a 25.2% stake in Tribune Publishing, owner of the Chicago Tribune Alden Global Capital has gained substantial influence over the company. This has moved workers in a frenzy who took to social media to express outrage and fear for their jobs as New York-based Alden is known for slashing jobs as its first […]
