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Tribune Publishing's top shareholder is now Michael Ferro, majority owner of Chicago Sun-Times

Tribune Publishing's top shareholder is now Michael Ferro, majority owner of Chicago Sun-Times

Michael Ferro, majority owner of the Chicago Sun-Times, has become the largest shareholder in Chicago-based Tribune Publishing, parent company of the Chicago Tribune, Los Angeles Times, The Baltimore Sun and other daily newspapers.

Tribune Publishing sold more than 5.2 million shares of newly issued common stock to Merrick Media, a Chicago-based investment firm controlled by Ferro, in a $44.4 million deal announced Thursday.

The purchase gives Ferro, a successful technology entrepreneur and nascent media baron, nearly a 17 percent stake in Tribune Publishing and a significant say in the direction of the legacy newspaper company as it navigates its digital future. Ferro,...

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