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Tribune Publishing Co. Reports Fourth Quarter 2015 Results
Michael Ferro Donates Chicago Sun-Times Stake
Tribune Adopts Content-First Organization
Tribune to Offer Free Digital Access to All Subscribers
CHICAGO--(BUSINESS WIRE)--March 2, 2016--Tribune Publishing Co. (NYSE: TPUB) today announced that Tribune Publishing Chairman Michael W. Ferro, Jr. has donated hisChicago Sun-Times stake to charitable causes.
“Michael invested in this company because he sees a tremendous opportunity to create value for all stakeholders,” said Sandra Martin, CFO of Tribune Publishing. “In 2011, after the untimely passing of Jim Tyree, Michael and a group of Chicago civic leaders created Wrapports to invest in and continue the important mission of the Chicago Sun-Times. Michael has chosen to transfer all of his ownership in Wrapports and the Chicago Sun-Times to a charitable trust. This divestiture will create a very clear separation of ownership and avoid perceived conflicts of interest, while also providing millions of dollars for community programs and other charitable causes.”
Tribune Publishing Co. today announced that it has implemented a content-first organization to create a multitude of content for the largest global audience on all mediums. As part of that initiative, the Company has announced several leadership transitions across the organization.
Effective immediately, the Editors across Tribune Publishing’s collection of award-winning brands have been named Publisher & Editor-in-Chief, assuming dual responsibilities. These managers are in the unique position of understanding their local communities, having the trust of their readers and maintaining the highest standards of journalistic integrity while implementing key initiatives that drive the business forward.
To lead this new initiative, Tim Ryan has been promoted to the office of President of Publishing, reporting to CEO Justin Dearborn. In his expanded role, Ryan will work directly with each Publisher & Editor-in-Chief to drive a content-first culture and achieve local market and company-wide business objectives. The new Publishers & Editors-in-Chief are:
- Bruce Dold, Chicago Tribune
- Howard Saltz, Sun Sentinel
- Jeff Light, The San Diego Union-Tribune
- Avido Khahaifa, Orlando Sentinel
- Trif Alatzas, The Baltimore Sun
- Andrew Julien, Hartford Courant
- Dave Erdman, The Morning Call
- Marisa Porto, Daily Press
The following information was filed by Tribune Publishing Co (TPUB) on Wednesday, March 2, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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