Deseret, Tribune Owners Say Deal Saves Tribune
The corporate owners of The Salt Lake Tribune and CEO of the Deseret News say in new court filings that changes to terms of a joint operating agreement aren't intended to put the Tribune out of business.
Digital First Media is a New York hedge fund that owns the Tribune. The CEO John Paton says there are no plans to stop publishing the Tribune and that the agreement is designed to save the paper. Deseret News CEO Clark Gilbert says the new terms preserve both papers.
The court filings come in response to a lawsuit filed last month by a group of former Tribune employees, who argue the terms violate federal antitrust laws and undermine the Tribune's role as an independent voice.
Under the new terms, the Deseret News gets 70 percent of the profits, compared with 42 percent before.