Tribune Publishing announced Thursday that Jack Griffin had been named their new CEO. Griffin will helm the newspaper company on April 14, which will be spun off the Tribune company later this year.
“Tribune Publishing is home to some of the country’s most iconic print and digital brands and I’m honored to be able to help guide the evolution of the company to an independent business,” Griffin said in a statement.
Publishing companies spinning off of their parent companies has become a hot trend among media conglomerates as money in print advertising tanks. Time Warner also recently spun off its magazines company into Time Inc.
The Tribune company announced a restructuring of its publishing business in November to “focus on its digital efforts and streamline operations,” which resulted in over 700 job losses across the Chicago Tribune, Los Angeles Times and six other daily newspapers.
Analysts said the massive cuts last fall were made to maximize profits in both companies.
Griffin previously served as CEO of Time Inc. before being ousted by Time Warner chief Jeff Bewkes after only five months after taking over as chief executive of the division.