A settlement has been reached in a suit filed by the trust
benefitting Marion Poynter, Nelson Poynter’s widow, against the Times
Publishing Co., the Tampa Bay Times reported. The trust has withdrawn the suit.
Terms of the settlement were not made public. https://www.tampabay.com/business/tampa-bay-times-reaches-settlement-with-marion-poynters-trust-20190107/
Marion Poynter sued Times Publishing Co.,
which operates the Tampa Bay Times and other publications, Poynter and others reported.
The suit, filed in a U.S. District Court in
Fauquier County, Virginia, claimed that Times Publishing owed the Marion K.
Poynter charitable trust $7.8 million plus interest.
The charitable trust was set up in 1990 during
an effort to stave off a hostile takeover of the St. Petersburg Times, which
later changed its name to the Tampa Bay Times, the paper reported.
Marion Poynter’s stock was employed to help
avert the takeover. The paper was to pay Poynter some million dollars a year
for the stock move.
The company stopped making the payments in
May. It said the
rise in newsprint costs due to tariffs on Canadian imports was to blame.
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