By: E&P Staff
Tribune Company is centralizing some back-office functions in a shared service center in Lewisville, Texas, opened by a newly created subsidiary, the parent company of the Chicago Tribune and Los Angeles Times announced Monday.
The subsidiary, Blue Lynx Media LLC, is expected to hire “as many as 200 new employees,” Tribune said.
Blue Lynx Media will initially focus on centralizing “financial responsibilities and systems administration” with a goal to “standardize and centralize certain administrative functions in order to minimize transactional inefficiencies and establish a strategic advantage in data analysis.”
The shared service center will allow processing of financial transaction in a low-cost way and will allow Tribune “to reallocate some of our finance resources, enabling us to compete on analytics,” Blue Lynx Media President Nick Cory said in a statement. Cory had been COO of Tribune Interactive until last month, when he was replaced by Jeff Kapugi in a move Tribune said at the time would allow Cory to focus on reorganizing back-office functions.
The center “will save Tribune tens of millions annually,” the company said.
Tribune said it chose the ConVergence Office campus as its site in Lewisville, located about 30 miles north of Dallas, “because of its value and location,” adding that the city “provided personal property and workforce development incentives to facilitate the deal.”