Pat Nabong/Sun-Times file
Tribune Publishing’s CEO has left the company, employees of the Chicago-based company were told Tuesday, the first day new owners took charge of the 174-year-old publisher of the Chicago Tribune and eight other large daily newspapers.
Alden Global Capital, now the owner, also reported that it will finance its acquisition with $278 million in loans from a private equity firm and from one of its own companies. The deal adds debt to a publisher that, like most print media outlets, has faced steady declines in circulation and ad revenue.
Employees were told in a brief memo that CEO Terry Jimenez has left the company. Jimenez, who was the only Tribune Publishing board member to oppose its sale to Alden Global Capital, had been the CEO since January 2020 and with the company in executive roles since April 2016.
The Morning Call now owned by hedge fund Alden Global mcall.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mcall.com Daily Mail and Mail on Sunday newspapers.