Tribune Publishing announces new board members, standstill pact with Alden
Tribune Publishing announced 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. Needleman and Minnetian are expected to stand for election at Tribune Publishing's 2020 Annual Meeting of Stockholders. Needleman and Minnetian are both representatives of funds affiliated with Alden Global Capital, collectively Tribune Publishing's largest shareholders, which combined own approximately 32% of Tribune Publishing's shares outstanding. In addition, the funds affiliated with Alden Global Capital 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.