Tribune Publishing Company (NASDAQ: TPCO), one of the nation’s leading media companies, announced today the appointment of Dana Goldsmith Needleman and Christopher Minnetian to its Board of Directors, effective immediately. The Board size has been increased from six to eight members. Ms. Needleman and Mr. Minnetian are expected to stand for election at Tribune Publishing’s 2020 Annual Meeting of Stockholders.
Ms. Needleman and Mr. Minnetian are both representatives of funds affiliated with Alden Global Capital LLC, collectively Tribune Publishing’s largest shareholders, which combined own approximately 32% of Tribune Publishing’s shares outstanding. Martech
“Tribune Publishing is pleased to add these two business professionals to our Board of Directors,” said David Dreier, Chairman of the Board. “The entire board believes that quality journalism is the company’s driving principle as we serve our communities and our shareholders. We look forward to working together to create new company successes.”
In addition, the funds affiliated with Alden Global Capital LLC have agreed to a standstill agreement that limits the ability of the Alden funds and their affiliates to increase their stake in the company through the second quarter of 2020. This agreement is consistent with other agreements executed between Tribune Publishing and other large shareholders. The full agreement will be included as an exhibit to a Current Report on Form 8-K filed by Tribune Publishing with the Securities Exchange Commission.