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Tribune Publishing to pay $56 million to shareholders

Discussion in 'Journalism topics only' started by SoloFlyer, May 31, 2019.

  1. SoloFlyer

    SoloFlyer Well-Known Member

    The latest chapter in another sordid saga.

    Tribune Publishing to pay $56 million special cash dividend to shareholders

    I particularly liked this bit: "Michael Ferro, who stepped down as non-executive chairman last year but remains the company’s largest shareholder, would receive a dividend payment of about $13.6 million. Ferro owns nearly 9.1 million shares, or 25.3% of the company, according to regulatory filings."

    Gee, wonder what some of the Tribune's employees could do with an infusion of cash.
  2. Raven

    Raven Active Member

    Greedy bastards.
  3. DanOregon

    DanOregon Well-Known Member

    I realize unions are in decline and have little juice - but I'm surprised there haven't been work actions at papers. With fewer employees - each making up a larger percentage of of the workforce - it wouldn't take too many people suddenly calling in sick for a few days in a row before things fall apart. I guess the question would be if anyone noticed.
  4. Raven

    Raven Active Member

    Many news organizations unionizing, though.
  5. Fredrick

    Fredrick Well-Known Member

    I wonder what the companies would do if say 10 key newsroom people at a shop called in sick, if they made sure it included some of the cogs who make sure there's a print product daily. The higher ups would be tempted to say screw it and not have the print edition BUT that wouldn't work as customers would want refunds. And you know what refunds mean ... the suits' bonuses are affected and their vacation homes would be in jeopardy.
  6. DanOregon

    DanOregon Well-Known Member

    The sad thing is - with so many papers attached to design hubs - I figure most local papers would just patch together wire copy to fill and few would notice the difference.
  7. Baron Scicluna

    Baron Scicluna Well-Known Member

    I would think one big issue, at least with the chains that have regional copy desks, is that as long as those desks don’t do any work actions, that the company can still get the paper out.

    If the reporters and the few editors walked, the company would just have the regional copy desk fill the paper with wire for a few days.

    EDIT: I saw your second post right after I posted this.
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