Anchor ads are not supported on this page.

4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs

U-T dispute with parent gets ink

New York Times gets ahold of leaked emails

Projected U-T ad revenues taken down $3.5 million with "no rigorous financial review"
Projected U-T ad revenues taken down $3.5 million with "no rigorous financial review"

The New York Times has a highly unusual story today (October 14) suggesting that Tribune Publishing, parent of the Union-Tribune, lowered the U-T's revenue forecast for the rest of the year without any good reason. The story suggests that this was one more manifestation of the long-running feud between the Los Angeles Times and Tribune Publishing's Chicago headquarters.

The U-T and the Times are working together as the Southern California wing of Tribune Publishing.

Sponsored
Sponsored
Austin Beutner

On September 8, Austin Beutner, publisher of both the Times and Union-Tribune, was fired by Tribune Publishing, which on September 18 lashed out at Beutner's performance in its flagship Chicago Tribune publication. In that article, the Tribune Publishing chief financial officer lowered revenue estimates for the year and blamed sub-par performance in Southern California.

In today's story, the New York Times revealed email exchanges within Tribune Publishing. Those emails almost certainly were leaked by the Southern California wing of the company.

The Tribune Publishing chief financial officer had written in an email September 17, the day before the announcement, that she had "reviewed the forecast reports and believe there is risk in the San Diego numbers. Please take ad revenues in San Diego down $3.5 million, and rerun numbers."

After the announced reduced forecast, Russ Newton, president and chief operating officer of the U-T, wrote Chicago headquarters and expressed surprise at the reduced forecast. "The projection does not seem realistic.... No one on my team appears to be the source of that decision," Newton wrote, according to the Times, which said it could not get confirmation from Newton.

Later, Newton provided numbers to the Chicago headquarters and wrote another email stating, "I was somewhat confused by the request to reduce our San Diego [revenue] forecast by $3.5 million for the balance of the year." The U-T said in the worst-case scenario it would have to reduce the forecast by $821,000.

Tribune Publishing conducted "no rigorous financial review" in dropping the revenue forecast, writes the New York Times.

It certainly appears that the forecast may have been revised lower to throw mud in the departed Beutner's face. Tribune Publishing has been taking flak from Los Angeles leaders for its treatment of Beutner, a popular figure in that metro area.

After the announced lower forecast, Tribune Publishing stock took a beating. Tribune Publishing seems to have been cutting off its nose to spite its face.

The latest copy of the Reader

Please enjoy this clickable Reader flipbook. Linked text and ads are flash-highlighted in blue for your convenience. To enhance your viewing, please open full screen mode by clicking the icon on the far right of the black flipbook toolbar.

Here's something you might be interested in.
Submit a free classified
or view all
Previous article

La Jolla's SummerFest 2024 starts July 26

The list of artists is stunning
Next Article

Comic-Con stymied by San Diego hotel room prices

But city wants to raise hotel taxes – not a help
Projected U-T ad revenues taken down $3.5 million with "no rigorous financial review"
Projected U-T ad revenues taken down $3.5 million with "no rigorous financial review"

The New York Times has a highly unusual story today (October 14) suggesting that Tribune Publishing, parent of the Union-Tribune, lowered the U-T's revenue forecast for the rest of the year without any good reason. The story suggests that this was one more manifestation of the long-running feud between the Los Angeles Times and Tribune Publishing's Chicago headquarters.

The U-T and the Times are working together as the Southern California wing of Tribune Publishing.

Sponsored
Sponsored
Austin Beutner

On September 8, Austin Beutner, publisher of both the Times and Union-Tribune, was fired by Tribune Publishing, which on September 18 lashed out at Beutner's performance in its flagship Chicago Tribune publication. In that article, the Tribune Publishing chief financial officer lowered revenue estimates for the year and blamed sub-par performance in Southern California.

In today's story, the New York Times revealed email exchanges within Tribune Publishing. Those emails almost certainly were leaked by the Southern California wing of the company.

The Tribune Publishing chief financial officer had written in an email September 17, the day before the announcement, that she had "reviewed the forecast reports and believe there is risk in the San Diego numbers. Please take ad revenues in San Diego down $3.5 million, and rerun numbers."

After the announced reduced forecast, Russ Newton, president and chief operating officer of the U-T, wrote Chicago headquarters and expressed surprise at the reduced forecast. "The projection does not seem realistic.... No one on my team appears to be the source of that decision," Newton wrote, according to the Times, which said it could not get confirmation from Newton.

Later, Newton provided numbers to the Chicago headquarters and wrote another email stating, "I was somewhat confused by the request to reduce our San Diego [revenue] forecast by $3.5 million for the balance of the year." The U-T said in the worst-case scenario it would have to reduce the forecast by $821,000.

Tribune Publishing conducted "no rigorous financial review" in dropping the revenue forecast, writes the New York Times.

It certainly appears that the forecast may have been revised lower to throw mud in the departed Beutner's face. Tribune Publishing has been taking flak from Los Angeles leaders for its treatment of Beutner, a popular figure in that metro area.

After the announced lower forecast, Tribune Publishing stock took a beating. Tribune Publishing seems to have been cutting off its nose to spite its face.

Comments
Sponsored

The latest copy of the Reader

Please enjoy this clickable Reader flipbook. Linked text and ads are flash-highlighted in blue for your convenience. To enhance your viewing, please open full screen mode by clicking the icon on the far right of the black flipbook toolbar.

Here's something you might be interested in.
Submit a free classified
or view all
Previous article

A taste of America on the other side of the world

Diner’s owners once drove Route 66
Next Article

Fleet After Dark, Lake Street Dive, Comic Con Bar Crawl

Events July 25-July 27, 2024
Comments
Ask a Hipster — Advice you didn't know you needed Big Screen — Movie commentary Blurt — Music's inside track Booze News — San Diego spirits Classical Music — Immortal beauty Classifieds — Free and easy Cover Stories — Front-page features Drinks All Around — Bartenders' drink recipes Excerpts — Literary and spiritual excerpts Feast! — Food & drink reviews Feature Stories — Local news & stories Fishing Report — What’s getting hooked from ship and shore From the Archives — Spotlight on the past Golden Dreams — Talk of the town The Gonzo Report — Making the musical scene, or at least reporting from it Letters — Our inbox Movies@Home — Local movie buffs share favorites Movie Reviews — Our critics' picks and pans Musician Interviews — Up close with local artists Neighborhood News from Stringers — Hyperlocal news News Ticker — News & politics Obermeyer — San Diego politics illustrated Outdoors — Weekly changes in flora and fauna Overheard in San Diego — Eavesdropping illustrated Poetry — The old and the new Reader Travel — Travel section built by travelers Reading — The hunt for intellectuals Roam-O-Rama — SoCal's best hiking/biking trails San Diego Beer — Inside San Diego suds SD on the QT — Almost factual news Sheep and Goats — Places of worship Special Issues — The best of Street Style — San Diego streets have style Surf Diego — Real stories from those braving the waves Theater — On stage in San Diego this week Tin Fork — Silver spoon alternative Under the Radar — Matt Potter's undercover work Unforgettable — Long-ago San Diego Unreal Estate — San Diego's priciest pads Your Week — Daily event picks
4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
Close

Anchor ads are not supported on this page.