Tuesday, February 23, 2016

Ferro Fires Chicago Tribune Publisher

UPDATE TUESDAY 2/23/16 1:46pm: a spokesman for Griffin disputed the suggestion that he was fired by Tribune, saying Griffin brought in Ferro as an investor and then the two men jointly decided that the time was right for Griffin to leave. While Ferro wanted to consolidate the company in Chicago, Griffin was reluctant to move from New York, the spokesman added.

Earlier Posting....

Jack Griffin has been replaced as CEO of Tribune Publishing, according to The Chicago Tribune.

Justin C. Dearborn now holds the top job at Tribune Publishing, the parent company of several major newspapers across the country, including the Chicago Tribune and the Los Angeles Times.

Justin C. Dearborn
The announcement comes less than three weeks after tech entrepreneur Michael Ferro became the company's top shareholder.

Dearborn most recently was CEO of Merge, a health care technology company acquired by IBM in October.

Ferro became the company’s largest shareholder in early February, when his Merrick Media bought a 17 percent stake in a $44.4 million deal. Ferro also is the majority owner of the Chicago Sun-Times, but has said he has given up “all operating involvement” with that newspaper upon becoming nonexecutive chairman of Tribune Publishing’s board.

When Ferro’s acquisition was announced, Griffin called Ferro “a tremendous admirer of our brands at the Tribune … so it’s a winning combination for our company.”

Less than three weeks later, reports surfaced of Griffin's termination.

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