By: E&P Staff
Timothy Knight, who officially becomes Newsday publisher in August, announced in a memo on Friday that an “action plan” to assuage advertisers dismayed over inflated circulation figures will be released at some point this week.
According to an article in Newsday, Knight said he believes the plan will help advertisers move forward with their businesses.
Tribune Co. took a $35 million pre-tax charge, the amount of which could change over time, in order to address advertisers’ concerns over circulation misstatements. Executives said that the advertisers could receive make goods or cash or a combination of both. However, during Tribune’s earnings call earlier this month, many financial analysts felt that the figure was too low.
Also in the memo, Knight said that Vice President of Circulation Robert Brennan, who was placed on administrative leave, has been officially fired.