laslimes

I will post a list of Directors and Key Executives of companies that benefit from the publication of the LA Times. For each Director/Executive I will also post a list of their other employers and other organizations to which they below. I will try to post contact information for each of these individuals. The idea is to make those who financially gain from the circulation of the LA Times accountable to the content of the newspaper.

Thursday, March 03, 2005

Interconnected Media Company Boards

Maybe if the Boards of these large media companies were comprised of a large majority of independent directors, they would focus more on the profitability of their companies and less on forwarding their ideologies.

Many large companies have Directors who also sit on the Boards of other companies. Here is a list that shows the Interlocking Directorates of the large media companies –
http://www.fair.org/media-woes/interlocking-directorates.html#tribune

I will explore this in more detail in the near future.

The Tribune Company Board of Directors

Here is a list of the members of the Board of Directors for the Tribune Company. Tribune company trades on the NYSE under the symbol TRB.

http://www.tribune.com/about/bios/board_index.html

Here is a discussion of the compensation paid to Tribune’s Directors from the Tribune Company’s 02/27/2004 Form 10-K SEC Filing –
ARTICLE II STOCK AWARDS
2.1 Stock Awards. Effective on the day after the date of each annual meeting of the stockholders of the Company at which Directors are elected ("Annual Meeting"), commencing with the Annual Meeting in 1998, each Director in office on adjournment of said meeting will automatically be awarded shares of Common Stock which on the date of the Annual Meeting have a Fair Market Value of $50,000 (the "Stock Award"). The Fair Market Value of the Stock Award shall be increased to $75,000 beginning with the 2005 award payable immediately following the 2005 Annual Meeting. A Director who is not initially elected at the Annual Meeting shall receive an award for a pro rata portion of the Stock Award on the day following his or her becoming a Director based on the number of months remaining from such date until the anniversary date for the most recent Annual Meeting of the Company divided by twelve.
2.2 Definition of Fair Market Value. The term "Fair Market Value" unless otherwise required by any applicable provision of the Internal Revenue Code of 1986, as amended, or any regulations issued hereunder shall mean, as of any date, the closing price of the Common Stock as reported on the New York Stock Exchange Composite Transactions List (or such other consolidated transaction reporting system on which the Common Stock is primarily traded) for such day, or if the Common Stock was not traded on such day, then the next preceding day on which the stock was traded, as reported by such source as the Board of Directors may select. If the Common Stock is not readily tradeable on a national securities exchange or other market system, its Fair Market Value shall be set under procedures established by the Board of Directors on the advice of an investment advisor.
Here is the link –
http://eol.edgar-online.com/edgar_conv_html/2004/02/27/0001047469-04-005918.html#A2129212ZEX-10_10_HTM_TOC_KQ1517_2

The following will be a series of posts that each discusses an individual Director and their interests and affiliations.

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