Tronc to Pay Chairman's Firm $15 Million Over 3 Years


Newspaper publisher Tronc has handed its chairman's venture capital firm a holiday gift that will keep on giving: a $15 million consulting contract over the next three years.

Chicago-based Tronc, which publishes the Chicago Tribune, Los Angeles Times and Baltimore Sun, will pay $5 million annually through 2020 to Merrick Ventures, a firm controlled by Tronc Chairman Michael Ferro, under terms of the Dec. 20 agreement.

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