MediaNews Group has paid its top executives $1.875 million following the company’s purchase of the Mercury News and Contra Costa Times and an investment agreement with Chronicle owner Hearst Corp., according to a Securities and Exchange Commission filing.

    • Jody Lodovic, president and the company’s second-in-command after Dean Singleton, received a $1 million bonus;

    • Anthony F. Tierno, senior vice president of operations, received $50,000.

    • Eric J. Grilly, president of MediaNews Group interactive, received $75,000.

    • Gerald Grilly, executive vice president and chief operating officer, will get a $150,000 bonus for the Bay Area deal.

Gerald Grilly is also retiring, and will receive $1.25 million severance payable over three years, and a “fiscal 2006 performance bonus” of $81,250 and $33,000.

Replacing Grilly will be Steve Rossi, the former CFO of Knight Ridder, whose annual base salary will be $600,000 not including bonuses and benefits.

SF Press Club News

2 Comments

  1. Given the great job MediaNews has done running the ANG papers into the ground, I’m sure these raises are all well deserved!

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