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Lacter on 'the Chandler clause'
Mark Lacter blogs over at LA Biz Observed:
Getting relatively little attention in today's stories about the Tribune announcement was a sentence buried in the press release. It relates to the terms of the Chandlers restructuring those two partnerships and it could become important as the company considers a sale. As part of the restructuring, the Chandlers own an additional 11.8 million shares of Tribune common stock, which gives them close to 20 percent ownership of the company. Here's the key point: the Chandlers have agreed to vote the additional shares in the same way as all other shareholders for 12 months from the date of distribution.Here's why it's important...
Mark analyzed the Tribune doings on KPCC news segments this morning and was interviewed on Marketplace this afternoon.
Also: Saturday's "Deadline L.A." on KPFK deals with the L.A. Times situation and the future of editor Dean Baquet and publisher Jeff Johnson. Times media writer James Rainey and journalism professor Phillip Meyer guest with hosts Barbara Osborn and Howard Blume. 90.7 FM, noon.
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Lee Abrams, Tribune Company's chief innovation officer, doesn’t seem too impressed with the Los Angeles Times. That’s the feeling I got when he appeared at the Los Angeles Press Club.
Seven or fifteen minutes from now I can definitively say I didn't hear the sound of sirens.
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