Media: Tronc chairman exits amid sex allegations

Michael Ferro, “the highly controversial chairman of the newspaper publisher Tronc,” is stepping down after just two years on the job, said Brian Stelter in CNN.com. The Chicago investor’s resignation coincided with a Fortune exposé detailing allegations of “inappropriate advances” he made to female entrepreneurs. Ferro took control of Tronc, formerly Tribune Publishing, in 2016 and helped negotiate the recent sale of the Los Angeles Times. He will take home a $5 million annual consulting fee through 2020.