TPCO: Tribune Publishing CEO exits on Alden's first day as owner

Alden Global Capital’s first day as owner of Chicago-based Tribune Publishing turned out to be Terry Jimenez’s last day on the job as CEO. Jimenez, the sole member of the company’s board of directors to vote against the sale to Alden, cashed out Tuesday with $2.55 million. Heath Freeman, president of Alden, was named president of the newly formed Tribune Enterprises, with Alden controlling all seven board seats. The parent company of the Chicago Tribune begins its new era under Alden with $278 million in debt and a future clouded by concerns of major newsroom cutbacks. Jimenez and Tribune Publishing did not respond to requests for comment.