Chicago - A message from the station manager

The [Thursday] Papers

By Steve Rhodes

New Tribune Publishing investor and vice chairman Patrick Soon-Shiong has his “machine vision,” but it already sounds antiquated (if not inherently silly and nonviable) compared to what Apple is cooking up.
“The U.S. Patent and Trademark Office officially published a series of 66 newly granted patents for Apple Inc.,” Patently Apple reported earlier this month.
“In this particular report we cover one of Apple’s most revolutionary ideas that they’ve had in some time. Apple’s invention covers a futuristic newspaper using a very thin flexible OLED display.
“Apple reveals that the new device would use an advanced form of MMS to deliver the content to this new kind of device.
“Apple notes that ‘Although the availability of multimedia information is ubiquitous, proper viewing, display, and delivery of information for an enjoyable user experience is still lacking. This is especially the case for viewing periodicals such as online magazines or news content on a mobile device where a large display is desirable.'”
In other words, while Soon-Shiong works on reinventing the print newspaper, Apple is at work reinventing the mobile newspaper.

Granted Patent: Digital Newspaper
Apple’s newly granted patent generally relates to an apparatus and method to communicate multimedia documents or content to a mobile or fixed device over a wireless network. In particular, the mobile or fixed device may be configured as a digital periodical or advertising device to transmit and receive converted multimedia documents or content delivered using multimedia messaging service over a wireless network.

Here’s the key:
“Apple’s electronic newspaper will be so thin that it could be collapsed and rolled up for portability.”
This is actually an idea we’ve been hearing about for years. Maybe one day Ferro and his team will get up to speed.
Dearborn Street
“The CEO of Tribune Publishing, Justin Dearborn, is moving to Los Angeles, the company said in a filing with the Securities and Exchange Commission Thursday morning,” Politico reports.
The company is providing a $262,000 moving allowance. I volunteer to drive the van.
–
Fucking Golden


That would be the Chinese American Service League.
“Honoree Michael Ferro is among the biggest donors to this event,” Chicagoland Radio and Media reports.
“The Ferro-created SPLASH magazine, now published and distributed by the Chicago Tribune, also serves as a donor and [was scheduled to cover] the event.”
–
Heard On The Street
“Gannett is betting that a strong vote of no-confidence in Tribune Publishing’s board next Thursday, June 2, will be enough to drive the Chicago-based media company to agree to its $864 million hostile acquisition effort,” The Street reports.
“The unusual vote, set for Tribune Publishing’s annual meeting, will have no binding impact on the company’s management or board. However, a strong negative vote, even one where only as little as 45% of participating shareholders oppose the incumbent directors. could be enough to embarrass Tribune Publishing and push it to the negotiating table.”
I doubt it. I don’t think Ferro is capable of that kind of embarrassment. It’s clear by now that he’s a man with a savior complex hellbent on inflicting his infamous firehouse of ill-considered ideas on Tribune audiences (and workplaces) nationwide (and soon, worldwide). The problem – well, one of many – is that Tribune is a public corporation responsible first and foremost to shareholders seeking maximum value, as we’ve been lectured (conveniently) over the years. If Ferro doesn’t like that, he should, as others have suggested, take the company private.
*
“One investor, Towle & Co., was so enraged by [Ferro’s latest] moves, which he suggested were defensive actions on the part of Tribune Publishing, that he suggested in a letter made public Wednesday that the decision to dilute his position by issuing 4.7 million shares to Nant Capital ‘was most distasteful’ and that ‘stacking the board and ownership in favor of one particular view is not good governance.'”
To wit:


(From Wednesday’s column: “The advisory firm Institutional Shareholder Services is behind Tribune Publishing on this issue, partly because Gannett has not put a firm tender offer on the table. But the proxy adviser gives Tribune Publishing its lowest corporate governance grade over all,” Jennifer Saba reports for Reuters Breakingviews.)
“And if they don’t move towards a deal, it is a strong possibility that some Tribune Publishing shareholders could file a lawsuit in Delaware charging that two recent share issuances constituted an illegal effort to thwart Gannett’s hostile proposal.”
I would think.
*
“[S]ome hedge funds . . . haven’t spoken publicly about the campaign and are the ones that will make or break Gannett’s campaign and bid. These include BlackRock, Vanguard Group and State Street, which own 5%, 2.5% and 1% respectively.”
–
Not Looking Marvelous
Presumably not the same Michael Ferro, but you never know!

–
Chicago Woman Proclaimed As “First Negro Novelist”
“The reason for True Love’s disappearance might be simple: it takes place in England, a place Farro probably never visited, and all of its characters are white.”
Fantasy Fix: Chicago Keepers
One on each side of town.
Beware Bristles In Your Burgers!
Grill with caution.
–
BeachBook
Policies To Help Students Pay For College Continue To Shift Toward Favoring The Rich.

*
Another Win For The Banks.

Notice a pattern? The rich in a rout.
*
Cyber “Emergency” Order Nets No Culprits.

*
How Neighborhoods Have Held Developers Accountable.

–
TweetWood
A sampling.


*


*


*


*


*


*
Who’s with me?


*


*


–
The Beachwood Tip Line: By proxy.

Permalink

Posted on May 26, 2016