Shares of media and publishing company Tronc Inc. rose as much as 8% on Tuesday after the company announced a broad management shake-up at its flagship newspaper the Los Angeles Times. Tronc said late on Monday that former interim Chief Executive at Yahoo! and President of Fox Interactive Media Ross Levinsohn would be the new chief executive and publisher of the L.A. Times. Levinsohn’s appointment is part of Tronc’s push to a digital transformation across its platforms and businesses, and the move in the stock suggests that investors are on board. Shares of Tronc are up more than 3% in the year to date, but have declined more than 10% in the last 12-month period. By comparison, the S&P 500 index is up more than 9% in the year and more than 12% in the last 12 months.
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