Ferro, as Tribune Publishing's non-executive chairman, must entertain a buyout offer for a company has recently installed a new chief executive and chief financial officer in the past two months. Dearborn was hired in February and Terry Jimenez was made CFO in March just as Tribune Publishing replaced its auditor PricewatershouseCoopers with Ernst & Young complaining of an "ineffective control environment" in an SEC filing. "Recent management upheaval creates numerous risks with respect to strategy and execution going forward," CRT Capital equity analyst Lance Vitanza said in an investor note. "There's seemingly never a dull moment for Tribune Publishing shareholders." Tribune Publishing fell 2% last year to $1.67 billion as legacy print publications continue to grapple with a decade-long transition of brand managers moving advertising money to a variety of online platforms.