Feder: Another Tribune payday for Michael Ferro - $13.6 million
Posted June 03, 2019 1:00 am
You may have missed an interesting footnote to news last week that Chicago-based Tribune Publishing declared a special cash dividend of $56 million to its shareholders, Robert Feder writes.
Buried in the details was word that Michael Ferro, the company's former chairman and still its biggest shareholder, would receive $13.6 million himself.
Ferro resigned as chairman last year just hours before Fortune magazine published a report that accused him of inappropriate sexual behavior toward two women. On the way out Ferro was handed a $15 million "consulting fee" (later reduced by $2.5 million to $12.5 million).
Get the full report, and more Chicago media news, at robertfeder.com.
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