Tronc Chief Pays Himself $15 Million After Slashing Staff

Deadline: Chicago tech multi-millionaire Michael Ferro, the largest shareholder of Tronc, has entered into an agreement with Tribune Publishing to receive a payout of $5M in the first quarters of 2018, 2019 and 2020 as a consultant through his Merrick Ventures. He is, in essence, paying himself $15 million.