Tribune Co. asks bankruptcy judge to OK $42.5 million incentive plan

Reuters.com

The bonuses would go to 640 management employees. Under the plan, Tribune will pay $16.4 million if it achieves "threshold" performance of its planned consolidated operating cash flow, $32.4 million for "target" performance and $42.5 million for "maximum" performance. Tribune, which filed for bankruptcy in 2008, says approval of the plan "continues to be critically important to maintain proper incentives for the management team as the company strives to sustain its performance despite the strains of the Chapter 11 process." || From 2010: Judge approves more than $40 million in Tribune bonuses. || From 2009: Tribune seeks management bonuses totaling up to $66 million.

  • Jim Romenesko

    From 1999 to 2011, Jim Romenesko maintained the Romenesko page for the Poynter Institute, a Florida-based non-profit school for journalists. Poynter hired him in August of 1999, after seeing his MediaGossip.com, a hobby site he started in May of 1999.

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