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Tim Ryan, who was named publisher of the Los Angeles Times and San Diego Union-Tribune on Tuesday, will receive an annual base salary of $625,000, according to Tribune Publishing’s 8-K SEC filing. It adds:

He will also be entitled to receive an annual cash bonus with a target of 100% of base salary. The Company will pay Mr. Ryan $75,000 for relocation expenses, all or half of which will be subject to repayment if Mr. Ryan’s employment is terminated for cause or he resigns without good reason prior to the one- or two-year anniversary of the employment agreement, respectively.

Mr. Ryan will receive a housing allowance of $175,000 by September 30, 2015, and $87,000 on September 30, 2016. In addition, the Company will provide Mr. Ryan with temporary housing and a rental car for up to four months.

Mr. Ryan’s employment agreement also provides that for 2016, 2017 and 2018, subject to his continued employment, he will receive annual equity grants having an aggregate fair market value of $550,000 on the grant date, of which half of the value of the award will be stock options and half restricted stock units.

Footnoted‘s Michelle Leder, who tipped me off to the 8-K filing, tells Romenesko readers that Ryan’s base salary is $50,000 lower than former Times publisher Austin Beutner’s – he was fired on Tuesday – but the $337,000 in housing/moving perks for Ryan “seem a bit generous for a company that’s supposedly concerned about expenses.”

Ryan joins the Los Angeles Times from Tribune’s Baltimore Sun, where he’s been publisher since 2007.

Update – An emailer writes: “Did you notice that Tim Ryan gets an unusual two years of severance if the LA Times changes hands and he gets fired?”

* Tribune Publishing Company Form 8-K (sec.gov)
* Beutner abruptly fired as LAT publisher, Ryan steps in (latimes.com)
* Los Angeles civic leaders protest Beutner’s dismissal (laobserved.com)

Earlier on JimRomenesko.com:
* Tribune discloses $625,000 base salary for digital chief Denise Warren

This memo from Los Angeles Times publisher Austin Beutner was just sent to employees of the San Diego Union-Tribune, formerly known as U-T San Diego:

Colleagues,

The Los Angeles Times’ parent company has completed its acquisition of The San Diego Union-Tribune.

This is exciting news for all of us as we bring together two outstanding institutions with a singular commitment to excellence in journalism.

As we move forward, we will reestablish the name of this historic publication, The San Diego Union-Tribune, which has long been synonymous with quality journalism and public service.

The team at The San Diego Union-Tribune will be led on a day-to-day basis by Russ Newton, the new President and Chief Operating Officer. He will report to me in my role as Publisher and Chief Executive Officer.

Russ will work closely with Editor Jeff Light, Managing Editor Lora Cicalo, and Bill Osborne, Editorial and Opinion Director.

What won’t change is The San Diego Union-Tribune’s place as an independent voice of the San Diego community, devoted to informing, engaging and serving its readers.

I look forward to working with all of you.

Austin

* January 2012: San Diego Union-Tribune becomes U-T San Diego (jimromenesko.com)

I asked David Westphal to elaborate on his tweet about the Times’ story. He writes in an email:

The Times’ anonymous source policy should have caught this one. The explanation for granting anonymity — that Russ Stanton is everybody’s supervisor — doesn’t work when he’s out the door in 10 days. For a sweeping pejorative like this one, a named source should be the price of admission.

Passages from the NYT story:

The cuts led to low newsroom morale and a sentiment that Mr. Stanton, while good-natured with a sunny disposition, did not have reporters’ best interests in mind, according to several newsroom employees who did not want to speak publicly about their supervisor. …

But Mr. Stanton also grew weary of cutting staff, associates said. With more budget tightening expected early next year, Mr. Stanton confided in friends that “he just didn’t have anymore layoffs in him,” said a former senior editor who would discuss Mr. Stanton only on the condition of anonymity.

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