CHICAGO, Dec. 2, 2019 /PRNewswire/ -- 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.
"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.
About Tribune Publishing
Tribune Publishing (NASDAQ: TPCO) is a media company rooted in
award-winning journalism. Headquartered in Chicago, Tribune Publishing operates local
media businesses including the Chicago Tribune, New York Daily
News, The Baltimore Sun, Orlando
Sentinel, South Florida's
Sun-Sentinel, Virginia's Daily
Press and The Virginian-Pilot, The Morning Call of Lehigh Valley, Pennsylvania and the Hartford
Courant. In addition to award-winning local media businesses,
Tribune Publishing operates national and international brands such
as Tribune Content Agency and The Daily Meal and is the majority
owner of the product review website BestReviews. Our brands are
committed to informing, inspiring and engaging local communities.
We create and distribute content across our media portfolio,
offering integrated marketing, media, and business services to
consumers and advertisers, including digital solutions and
advertising opportunities.
About Christopher Minnetian
and Dana Goldsmith Needleman
Christopher Minnetian, age 50,
has served as the president of Smith Management LLC, a family
investment firm, since 2014. From 2001 to 2014, Mr. Minnetian was a
Managing Director and the General Counsel of Ripplewood Holdings
LLC, a private equity firm. Earlier in his career, Mr. Minnetian
was an attorney at the law firm of Piper Rudnick LLP, where he was
a member of the firm's Corporate & Securities practice. Mr.
Minnetian currently serves on the board of directors of MNG
Enterprises, Inc., a Denver-based publishing company. Mr. Minnetian
received an A.B. in economics from Columbia
College, Columbia University and a J.D. from the
Fordham University School of Law.
Dana Goldsmith Needleman, age 47,
has served as a Principal of The Cogent Funds, a private real
estate investment firm, since 2009. From 1999 to 2009, Ms.
Goldsmith Needleman was at Cardinal Capital Partners, a
sale-leaseback firm, serving as Managing Director from 2003 to 2009
and Vice President from 1999 to 2002. Ms. Goldsmith Needleman
currently serves as a director of Fred's Inc., a company operating
discount general merchandise store chain, which was a public
company until September 2019. Ms.
Goldsmith Needleman holds a B.A. from Duke
University and a J.D. from Boston
University School of Law.
Forward-looking Statements
This press release contains "forward-looking statements" within
the meaning of the federal securities laws. Forward-looking
statements are subject to known and unknown risks and
uncertainties, many of which may be beyond our control. Important
factors that could cause actual results, developments and business
decisions to differ materially from these forward-looking
statements are uncertainties discussed below and in the "Risk
Factors" section of the Company's filings with the U.S. Securities
and Exchange Commission (the "SEC"). "Forward-looking statements"
include all statements that do not relate solely to historical or
current facts, and can be identified by the use of words such as
"may," "might," "will," "could," "should," "estimate," "project,"
"plan," "anticipate," "expect," "intend," "outlook," "seek,"
"designed," "assume," "implied," "believe" and other similar
expressions. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of their dates.
These forward- looking statements are based on estimates and
assumptions by our management that, although we believe to be
reasonable, are inherently uncertain and subject to a number of
risks and uncertainties.
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SOURCE Tribune Publishing Company