Tribune Publishing to LAT buyers: Drop dead

Tribune Publishing to LAT buyers: Drop dead photo Tribune Publishing to LAT buyers: Drop dead

LA Times publisher Tribune Publishing has recently let go of Austin Beutner as CEO and head of publishing for the Los Angeles Times.



“We affirm our confidence in the ability of Jack Griffin, chief executive officer; Tim Ryan, publisher & CEO of the California News Group; and the entire management team to execute our strategy, drive great journalism and create engaging and rewarding experiences for readers and marketing partners”, the board’s statement reads. “He’s one of our most experienced executives and operators with a proven track record, and he has an outstanding reputation for and care for the journalistic mission of every business he’s ever worked at or run”.

“The appointment of a publisher transferred from outside of the Los Angeles area, and the continued practice of having key decisions made by a body located approximately 1,750 miles and two time zones away, is clearly not in the best interest of operating, growing and nurturing a local newspaper”, Supervisors Ridley-Thomas and Antonovich said in their motion.

Earlier this week, the list of critics grew longer with an open letter from the LA city attorney, controller, council president, and a number of other council members, urging Tribune to “consider the important role that Angelenos must play in its management and ownership as you consider the possibilities for the Times’ future”.

Among the signatories are former Mayors Antonio Villaraigosa and Richard Riordan, and billionaire entrepreneur and philanthropist Eli Broad.

Last week, the Business Journal reported that Tribune Publishing Chairman Eddy Hartenstein had solicited – and the rest of the directors subsequently rejected – an offer for the Times and Union-Tribune from Broad.

A Poynter.org report released Tuesday said the Times’ newsroom could be decimated by cost-cutting measures to be implemented under the new regime.

The CFO for Tribune Publishing blamed Southern California for all their problems saying revised guidance has reflected a lower forecasted revenue for this year for Southern California.

“We are fully committed to our five-point transformation plan to create value for all shareholders and stakeholders alike, which we launched previous year when Tribune Publishing became a publicly traded company”, said the statement from the Tribune’s board.

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