The book appears to be all but closed on the Michael Ferro era at Tribune Publishing.
The executive and his Merrick Ventures have sold a 25.2% stake in Tribune to Alden Global Capital, making the New York-based hedge fund Tribune’s largest shareholder.
Along with the nearly $118 million deal for 9.1 million shares, which were priced at $13 apiece, the parties are in talks to add two board seats to the Tribune board. That would give Alden two seats out of eight, commensurate with its 25% stake in the company.
Ferro exited in the spring of 2018 as chairman of the board at Tronc — which was the company’s name for a period of years, in a widely derided effort to convey “Tribune online content” though an ungainly shorthand. Just hours after his “retirement” announcement, a Fortune magazine article detailed allegations of unwanted sexual advances by Ferro. Before his departure, Ferro and Tribune agreed to...
The executive and his Merrick Ventures have sold a 25.2% stake in Tribune to Alden Global Capital, making the New York-based hedge fund Tribune’s largest shareholder.
Along with the nearly $118 million deal for 9.1 million shares, which were priced at $13 apiece, the parties are in talks to add two board seats to the Tribune board. That would give Alden two seats out of eight, commensurate with its 25% stake in the company.
Ferro exited in the spring of 2018 as chairman of the board at Tronc — which was the company’s name for a period of years, in a widely derided effort to convey “Tribune online content” though an ungainly shorthand. Just hours after his “retirement” announcement, a Fortune magazine article detailed allegations of unwanted sexual advances by Ferro. Before his departure, Ferro and Tribune agreed to...
- 11/19/2019
- by Dade Hayes
- Deadline Film + TV
Tribune Publishing chairman and CEO Justin Dearborn has stepped down from both his positions, the company announced Thursday.
The departing executive will be replaced by two successors, Timothy P. Knight, who will take the helm as CEO, and David Dreier, as chairman of the board.
“I am proud of what we have accomplished over the last several years. Tribune Publishing has a tremendously talented team and I am confident that the Company is in great hands to build on that progress under Tim’s leadership going forward,” Dearborn said in a statement.
Also Read: Former Tribune Publishing Chairman Accused of Calling Eli Broad Part of a 'Jewish Cabal' (Report)
The executive had been close to many of the scandals surrounding the company in recent years. He assumed the top job in March 2018 after his predecessor, Michael Ferro, was forced out in the wake of a #MeToo scandal. Dearborn was known...
The departing executive will be replaced by two successors, Timothy P. Knight, who will take the helm as CEO, and David Dreier, as chairman of the board.
“I am proud of what we have accomplished over the last several years. Tribune Publishing has a tremendously talented team and I am confident that the Company is in great hands to build on that progress under Tim’s leadership going forward,” Dearborn said in a statement.
Also Read: Former Tribune Publishing Chairman Accused of Calling Eli Broad Part of a 'Jewish Cabal' (Report)
The executive had been close to many of the scandals surrounding the company in recent years. He assumed the top job in March 2018 after his predecessor, Michael Ferro, was forced out in the wake of a #MeToo scandal. Dearborn was known...
- 1/18/2019
- by Jon Levine
- The Wrap
Publishers were coming and going today at two major media outlets.
Tribune Publishing Chief Executive Justin Dearborn stepped down after three years, the newspaper company announced Thursday. Chicago newspaper executive Tim Knight was named CEO. He was formerly president of the company and will also join the Tribune Publishing board.
Board member David Dreier replaces Dearborn as Tribune Publishing chairman. Ross Levinsohn and Mickie Rosen, the CEO and president, respectively, of Tribune Interactive, the digital arm of Tribune Publishing, are also leaving.
Levinsohn joined Tribune Publishing in 2017 as publisher and CEO of The Los Angeles Times, which was owned by Tribune at the time. He was placed on leave in January 2018 after reports surfaced that he was a defendant in two sexual harassment lawsuits while at other media companies.
Levinsohn was reinstated in February 2018 and shifted to a new role as head of Tribune Publishing’s digital business unit.
The...
Tribune Publishing Chief Executive Justin Dearborn stepped down after three years, the newspaper company announced Thursday. Chicago newspaper executive Tim Knight was named CEO. He was formerly president of the company and will also join the Tribune Publishing board.
Board member David Dreier replaces Dearborn as Tribune Publishing chairman. Ross Levinsohn and Mickie Rosen, the CEO and president, respectively, of Tribune Interactive, the digital arm of Tribune Publishing, are also leaving.
Levinsohn joined Tribune Publishing in 2017 as publisher and CEO of The Los Angeles Times, which was owned by Tribune at the time. He was placed on leave in January 2018 after reports surfaced that he was a defendant in two sexual harassment lawsuits while at other media companies.
Levinsohn was reinstated in February 2018 and shifted to a new role as head of Tribune Publishing’s digital business unit.
The...
- 1/18/2019
- by Bruce Haring
- Deadline Film + TV
Studios enjoyed their best year ever at domestic box offices in 2012 — but still managed to persuade lawmakers that movie and TV investors need a sweet tax deduction to keep the cameras rolling in the U.S. The new agreement to avoid the so-called fiscal cliff collection of spending cuts and tax hikes includes a provision enabling investors in productions shot in the U.S. to deduct the first $15M of the costs or $20M if the shooting takes place in low-income areas. Investors love the break, in Section 181 of the Internal Revenue Code, because they can take the entire deduction in the first year instead of spreading it over several years, and can combine it with state tax credits. It began with the American Jobs Creation Act of 2004 and in 2008 was amended and extended to the end of 2011. But Congress didn’t renew it in time for 2012 productions. No matter:...
- 1/2/2013
- by DAVID LIEBERMAN, Executive Editor
- Deadline TV
MSNBC's Andrea Mitchell paid tribute to Dick Clark with his good friends Dick Cavett and Rep. David Dreier on Friday.
The three of them spoke about his legacy, noting his tremendous influence on music and how he broke down racial barriers on "American Bandstand."
"He got lots of nasty mail, Dick, and he's told me some stories just recently," Dreier said. "But he felt passionate, he was proud to say that he had the ability to put black kids and white kids in the same room and they didn't kill each other, and he saw that as a great accomplishment."
Cavett and Dreier also shared anecdotes about Clark, focusing on one story in particular. Cavett said that he had signed onto Clark's failed investment in a "video cassette type thing" back in the day. Dreier joked that Clark convinced Cavett to invest in it knowing that it would fail.
Later,...
The three of them spoke about his legacy, noting his tremendous influence on music and how he broke down racial barriers on "American Bandstand."
"He got lots of nasty mail, Dick, and he's told me some stories just recently," Dreier said. "But he felt passionate, he was proud to say that he had the ability to put black kids and white kids in the same room and they didn't kill each other, and he saw that as a great accomplishment."
Cavett and Dreier also shared anecdotes about Clark, focusing on one story in particular. Cavett said that he had signed onto Clark's failed investment in a "video cassette type thing" back in the day. Dreier joked that Clark convinced Cavett to invest in it knowing that it would fail.
Later,...
- 4/20/2012
- by Katherine Fung
- Huffington Post
Rep. Marcy Kaptur (D-Ohio) has captured an unusual trio of endorsements in the Democratic primary. Actor Tom Hanks, Republican former senator and presidential candidate Bob Dole and Rep. John Dingell (D-Mich.) are all backing her in a hotly-contested race against fellow Rep. Dennis Kucinich (D-Ohio).
All three worked with Kaptur to build the World War II Memorial in Washington, D.C., The Cleveland Plain-Dealer reports.
"As partners with Congresswoman Kaptur in the long national effort to build the Memorial, we wish her all the best in her campaign for re-election and we urge Ohio voters to support her on March 6," Hanks, Dole and Dingell wrote in a letter.
As Roll Call notes, Kucinich also has his share of Hollywood supporters and friends, including Shirley MacLaine, Sean Penn and Russell Simmons.
Kaptur and Kucinich were pushed into the same district after congressional redistricting eliminated two of Ohio's 18 current seats. The primary...
All three worked with Kaptur to build the World War II Memorial in Washington, D.C., The Cleveland Plain-Dealer reports.
"As partners with Congresswoman Kaptur in the long national effort to build the Memorial, we wish her all the best in her campaign for re-election and we urge Ohio voters to support her on March 6," Hanks, Dole and Dingell wrote in a letter.
As Roll Call notes, Kucinich also has his share of Hollywood supporters and friends, including Shirley MacLaine, Sean Penn and Russell Simmons.
Kaptur and Kucinich were pushed into the same district after congressional redistricting eliminated two of Ohio's 18 current seats. The primary...
- 3/1/2012
- by The Huffington Post
- Huffington Post
Florida Governor Charlie Crist. Former New York Mayor Ed Koch. California Congressman David Dreier. Former Chairman of the Republican National Committee Ken Mehlman. Ex-Idaho Senator Larry Craig. Ex-Louisiana Congressman Jim McCrery. All play starring roles in Outrage, the incendiary new documentary from Academy Award-nominated director Kirby Dick. The film's thesis: The American political system is home to a large number of closeted homosexual lawmakers. Most are Republican. Nearly all of them oppose equal rights measures for gays because they want to conceal their own sexual orientation. In the words of openly gay congressman Barney Frank: "There is a right to privacy, but there is no right to hypocrisy." Outrage digs deep, and what's more, it names names. Now playing in theaters, it is a timely, unsettling expos...
- 5/13/2009
- by Brad Listi
- Huffington Post
Ensuring media diversity and fighting runaway production were the themes of the night as the Caucus for Television Producers, Writers & Directors presented its inaugural American Spirit Awards to FCC commissioner Michael Copps and Rep. David Dreier. The event, held Sunday night at the Beverly Hills Hotel, drew caucus members as well as representatives of AFTRA, the DGA, the Producers Guild of America, SAG and the WGA. They honored Copps for his work on "behalf of protecting the public interest and in support of the independent producing community" and Dreier, R-Calif., for his support of the entertainment industry, particularly "in relation to the tax incentive legislation to curb runaway production and in protecting intellectual property." In accepting his award, Copps reiterated his case for more diversity on the TV airwaves along with a plea to the FCC to require the networks to set aside a certain amount of primetime hours -- 25%-35% -- for independent producers and creators. Copps' arguments were similar to those he made in January during the second-day opening session of the National Association of Television Program Executives conference in Las Vegas.
- 4/13/2005
- The Hollywood Reporter - Movie News
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