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 with Newsday and has also worked in industries outside media.
“We don’t know what this means, but remain concerned about the company’s commitment to journalism,” tweeted the Baltimore Sun Guild, the union representing that paper’s reporters, photographers and other staff.
With such crisis looming, the company has also offered buyouts in an attempt to cut costs before the next move from Alden, which agreed in Dec. to stop increasing its stake until July 2020.
As of now, Alden president, Heath Freeman has not commented on the situation.
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