Michael Ferro Steps Down as Chairman of Tronc Following Sale of LA Times

The transaction is expected to close in the next several weeks

Michael Ferro, the largest shareholder of tronc, Inc., is stepping down as chairman of the publisher which includes the Chicago Tribune, New York Daily News, South Florida Sun-Sentinel and other newspapers.

Justin Dearborn, CEO of tronc, Inc., has been named chairman of the board.

Ferro’s decision to step down follows the company’s $500 million deal to sell the Los Angeles Times, San Diego Union-Tribune, and other California titles to tronc’s second largest individual shareholder, Los Angeles entrepreneur Dr.

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