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  • American City Business Journals2 months ago

    Tribune Publishing finds new investor as window opens (slightly) for Gannett

    Patrick Soon-Shiong has drunk the Michael Ferro Kool-Aid. Tribune Publishing today revealed that Soon-Shiong, the founder of Nant Capital, a technology-focused investment firm based in Los Angeles, has invested $70.5 million in the company's stock in exchange for 4.7 million shares in the company. Soon-Shiong also will become vice-chairman, effective June 2, of Tribune Publishing's (TPUB) board of directors, headed by Ferro, who has a 5.22 million share stake in the company.

  • American City Business Journals5 months ago

    Tribune Publishing installs new CEO as Board Chair Michael Ferro asserts his authority

    Michael Ferro is now in charge at Tribune Publishing (TPUB) and all that the Chicago-based newspaper company controls. Less than a month after stunning t he media world by buying his way into Tribune Publishing and becoming the company's largest shareholder and non-executive chairman of the Board of Directors, Ferro today ousted the company's controversial CEO Jack Griffin, who had been in the post less than two years. Griffin oversaw the spinoff of Trib Publishing from Tribune Media Co. (TRCO), which controls the broadcasting properties that had been part of the former Tribune Co. Ferro today tapped a familiar (to Ferro anyway) face to replace Griffin — Justin Dearborn.