Timothy P. Knight
Appointed CEO; David Dreier Appointed Chairman
“Tim is a
proven operator with an entrepreneurial approach and digital media expertise. At
a time when consolidation is essential in our quest to strengthen journalism,
his experience transforming media companies will help achieve success,” said
Dreier. “Tim’s deep knowledge of our company and his commitment to expand our
paid digital business will be critically important. Journalism is under attack
across the globe and we have an unwavering commitment to delivering a first
rate news product. We take very seriously the role that we play in a
functioning democracy. Working with Tim and the rest of our Tribune team, we
will continue to provide great content for our readers and great value to our
shareholders.”
Dreier
continued, “On behalf of the Board, I want to thank Justin for his
leadership. Over the past three years, he has improved Tribune
Publishing’s financial position by building the infrastructure necessary to
convert our award-winning content into revenue through an enhanced digital
strategy. During his tenure, digital only subscribers have more than
tripled and we have significantly reduced our debt and pension obligation. Our
share price has increased 80% and our market capitalization has more than
doubled. These results reflect the successful implementation of our efforts to
improve operating performance and drive overall value. We wish him all the
best.”
Knight
commented, “It is an honor to assume this role at such an exciting time for our
company. Delivering high-quality local journalism has never been more important
and Tribune Publishing’s iconic brands continue to inform, inspire and engage
the communities we serve. We are confident that we have the right assets,
people and strategy to continue to transform our business while investing in
world-class journalism. We also believe there are attractive consolidation
opportunities within the media industry that will enable us to accelerate our
strategy. I look forward to building on the progress we made under Justin’s
leadership as we continue to deliver award-winning content to readers, a
compelling platform for advertisers and value for our shareholders.”
Timothy Knight Biography
Timothy Knight joined Tribune
Publishing Company in February
2017 and most recently has had responsibility for all of the
Company’s local market operations. Upon joining the Company, Knight served as
President of the digital content and commerce division, where he was
responsible for advancing the award-winning media company’s digital strategy
across all platforms.
Knight previously served as the President of Advance Ohio, and directed the strategy, sales, marketing and content of cleveland.com, one of the largest news and information sites inOhio and
was CEO of Wrapports LLC .
Knight previously served as President and CEO ofNewsday
Media Group and Publisher of Newsday. In addition to the daily
newspaper, he was responsible for Newsday’s interactive operations, amNewYork
(a free paper distributed in New
York City ) as well as daily papers in Greenwich and Stamford,
CT . Knight led the process that resulted in the sale of Newsday
Media Group by Tribune
Company to Cablevision
Systems Corporation for $650
million in 2008.
Prior to joiningNewsday in
2003, Knight held a number of senior management positions at the Tribune
Company and the Chicago
Tribune Media Group . He was a co-founder of and held senior
management roles at Classified
Ventures, LLC (parent of cars.com and apartments.com). Prior
to joining Classified Ventures in
1997, Knight served as mergers and acquisitions counsel for Tribune
Company .
Knight started his career as a corporate attorney atSkadden,
Arps, Slate, Meagher and Flom in Chicago and London ,
England .
Knight holds a bachelor's degree in accounting from Marquette University . He also holds a
juris doctorate with honors from DePaul
University College of Law where he was Order of the Coif and
attended the corporate finance program at London Business School .
David Dreier Biography
David Dreier has been a
director of Tribune
Publishing since June
2016 . He is the Chairman of the Annenberg-Dreier
Commission which has focused on encouraging the free flow of goods,
services, capital, information, ideas and people throughout the Greater
Pacific.
Knight previously served as the President of Advance Ohio, and directed the strategy, sales, marketing and content of cleveland.com, one of the largest news and information sites in
Knight previously served as President and CEO of
Prior to joining
Knight started his career as a corporate attorney at
David Dreier Biography
Dreier
served as a member of the United
States Congress , representing Los
Angeles from 1980 until 2013. A
passionate proponent of first amendment rights he has championed a vigorous and
free press. Dreier was the first Californian and one of the youngest and
longest serving chairmen of the powerful Rules Committee, structuring the
debate for virtually every piece of legislation considered in Congress.
A member of
the Council on Foreign Relations ,
he was the founding chairman of the House
Democracy Partnership , a congressional commission that has worked to
strengthen legislative bodies in twenty one new and reemerging democracies
across the globe. Additionally, he launched the bipartisan Congressional
Trade Working Group that has built support for free trade agreements
for more than thirty years.
Dreier is a
Distinguished Fellow at the Brookings
Institution and a trustee of both the California
Institute of Technology and his alma mater, Claremont McKenna College which
has established the Dreier Roundtable to encourage young people into public
service. He has served on the immigration reform and retirement savings
commissions at the Bipartisan
Policy Center . In
addition to being an honors graduate of Claremont
McKenna College he
holds a Master’s degree from Claremont
Graduate University .
Cautionary Statements Regarding Forward-looking
Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based largely on our current expectations and reflect various assumptions by us. Forward-looking statements are subject to certain risks, trends, and uncertainties that could cause actual results and achievements to differ materially from those expressed in such forward-looking statements. Such risks, trends and uncertainties, which in some instances are beyond our control, include: changes in advertising demand, circulation levels and audience shares; competition and other economic conditions; economic and market conditions that could impact the level of our required contributions to the defined benefit pension plans to which we contribute; decisions by trustees under rehabilitation plans (if applicable) or other contributing employers with respect to multiemployer plans to which we contribute which could impact the level of our contributions; our ability to develop and grow our online businesses; changes in newsprint price; our ability to maintain effective internal control over financial reporting; concentration of stock ownership among our principal stockholders whose interests may differ from those of other stockholders; and other events beyond our control that may result in unexpected adverse operating results. For more information about these and other risks see Item 1A (Risk Factors) of the Company’s most recent Annual Report on Form 10-K and in the Company’s other reports filed with theSecurities
and Exchange Commission .
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based largely on our current expectations and reflect various assumptions by us. Forward-looking statements are subject to certain risks, trends, and uncertainties that could cause actual results and achievements to differ materially from those expressed in such forward-looking statements. Such risks, trends and uncertainties, which in some instances are beyond our control, include: changes in advertising demand, circulation levels and audience shares; competition and other economic conditions; economic and market conditions that could impact the level of our required contributions to the defined benefit pension plans to which we contribute; decisions by trustees under rehabilitation plans (if applicable) or other contributing employers with respect to multiemployer plans to which we contribute which could impact the level of our contributions; our ability to develop and grow our online businesses; changes in newsprint price; our ability to maintain effective internal control over financial reporting; concentration of stock ownership among our principal stockholders whose interests may differ from those of other stockholders; and other events beyond our control that may result in unexpected adverse operating results. For more information about these and other risks see Item 1A (Risk Factors) of the Company’s most recent Annual Report on Form 10-K and in the Company’s other reports filed with the
The words
“believe,” “expect,” “anticipate,” “estimate,” “could,” “should,” “intend,”
“may,” “will,” “plan,” “seek” and similar expressions generally identify
forward-looking statements. However, such words are not the exclusive
means for identifying forward-looking statements, and their absence does not
mean that the statement is not forward-looking. Whether or not any such
forward-looking statements, in fact, occur will depend on future events, some
of which are beyond our control. Readers are cautioned not to place undue
reliance on such forward-looking statements, which are being made as of the
date of this press release. Except as required by law, we undertake no
obligation to update any forward-looking statements, whether as a result of new
information, future events or otherwise.
About Tribune
Publishing Company
Tribune
Publishing Company (NASDAQ: TPCO) is a media company rooted in
award-winning journalism. Headquartered in Chicago , Tribune
Publishing Company operates local media businesses in eight markets
with titles including the Chicago Tribune , New
York Daily News , The Baltimore
Sun , Orlando Sentinel , South
Florida's Sun-Sentinel ,
Virginia ’s Daily
Press and The Virginian-Pilot, The Morning Call of Lehigh
Valley, Pennsylvania , and the Hartford
Courant .
Our brands
are committed to informing, inspiring and engaging local communities. We
create and distribute content across our media portfolio, offering integrated
marketing, media, and business services to consumers and advertisers, including
digital solutions and advertising opportunities.
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