Client: tronc, Inc. & Mr. Michael Ferro
Source: New York Times
The New York Times devotes a portion of its business section to profiling our client, Michael Ferro, chairman of tronc, Inc. The piece covers Ferro’s business record creating substantial shareholder value and his vision of using technology to grow journalism. From the Times’ profile in the August 15 print edition:
Since taking a $44 million stake in Tribune Publishing in February, Mr. Ferro has installed himself as chairman, fired the chief executive and replaced him with a longtime associate, overhauled the senior executive ranks, and reshaped the company’s board so that a majority is aligned with him.
He has also taken aggressive steps to transform one of the most storied publishers in the country, pushing a technology-driven approach to journalism that includes concepts like artificial intelligence…
Mr. Ferro’s vision for Tronc has excited some and befuddled others at the company, several current and former employees said. He has combined the role of editor and publisher across his newspapers, blurring the lines between the traditionally separate business and news sides. He said in June that he wanted Tronc to produce 2,000 videos a day, a staggering number for a newspaper publisher, using artificial intelligence.
Some current and former employees said they were impressed by his enthusiasm. “He’s got a lot of energy and a lot of ideas,” said Anne Vasquez, chief digital officer at Tronc. “That excitement — I can feed off that excitement. The sparks begin to fly. You start to think about the possibilities as opposed to the obstacles.”
The New York Times, “A Tech Mogul’s Fight to Keep Control of a Newspaper Empire,” August 15, 2016