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MediaBuyerPlanner: Jeffrey M. Johnson, the publisher of the Los Angeles Times who defied parent Tribune Co. when it demanded layoffs in the newsroom, returned from a meeting with top executives in Chicago claiming the two groups had "reached an understanding."
The results of the meeting have led to hope at the newspaper that Johnson and editor Dean Baquet may be able to keep their jobs, but the standoff between Tribune and the top executives at its biggest paper remains unresolved, according to the New York Times.
In the meantime, Tribune Co. is facing pressure from its biggest investor, the Chandler family, to break up the media group, which includes newspapers and television broadcasters in some of the largest cities in the U.S. and the Chicago Cubs, writes MSNBC.
So while Dennis J. FitzSimons, chief executive at Tribune, may be concerned about the open rebellion of top executives at the Los Angeles Times, he is facing larger issues, which are expected to be broached at a board meeting to be held in Chicago today.
Tribune Co.'s troubles come against a backdrop of debate about the future of the newspaper industry in general. As circulations and ad revenues decline, many in the industry believe that newspapers might fare better under local and private owners rather than under large corporations, and at least three deep-pocketed LA area citizens have come forward inquiring about ownership of the Times. FitzSimons has defended Tribune Co.'s ownership of the paper, writing that local ownership is not a panacea for newspapers.
In the meantime, 300 LA Times journalists have signed a petition to be delivered to the board during today's meeting, supporting the paper's editor and publisher.
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