Friday, May 29, 2020

Alden reps elected to Tribune Publishing board; local ownership efforts


Tribune Publishing shareholders elected two representatives of hedge fund Alden Global Capital to the paper chain’s board last week, the Chicago Tribune reported. Dana Goldsmith Needleman and Christopher Minnetian were appointed to the board in December and were expected to stand for election at Tribune Publishing's 2020 annual meeting, which they did. The board size has been increased from six to eight members.
Meanwhile, there are campaigns to push Tribune Publishing to sell its papers to local investors.
Mason Slaine, who owns a 7.9% stake in the company, said he communicated with Tribune Publishing in 2019 to ask about purchasing the company’s Florida papers, the Chicago Tribune said. Tribune Publishing didn’t respond to him on the matter, Slaine said, according to the paper.
Chicago Tribune staffers initiated their own drive to find other owners this year.
And a number of Baltimore business people and the union representing journalists are trying to invigorate a drive for local ownership of The Baltimore Sun, that paper reported.
Tribune Publishing will report its financial results for the first quarter on June 5, the company said. The company had delayed the report.
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