What comes after a turnaround? Strategic growth of course. So it makes sense that Times Mirror has hired Edward ‘Ted’ Blood as vice president of strategic planning. Times Mirror is the Los Angeles-based publisher of the LA Times, Newsday, The Baltimore Sun and other newspapers and trade journals.
‘This is an opportunity for me to share what I’ve learned as an analyst and working with analysts for over 20 years,’ remarks Blood, who joins Times Mirror from Darden Restaurants where he was VP of IR and strategic planning.
Blood points out that Times Mirror spent the last two years focusing its business by divesting non-core operations. ‘It has built the foundation for future growth.’ The effort has been reflected in the stock price, which has more than doubled.
Now Blood is working with senior management on growth and acquisition programs as well as IR. He reports to CFO Tom Unterman, while Jean Jarvis continues to be responsible for IR.
Blood says a primary goal is to broaden the Times Mirror shareholder base – in the direction of both individual and overseas shareholders. ‘Getting individuals to own your stock gives a little more stability, and it’s an opportunity to merchandise stock to a shareholder base that is underepresented.’
Having spent most of his career in consumer products, Blood is relatively unfamiliar with the media industry. ‘But in a way it’s still consumer products: newspapers, magazines and services.’
Blood spent ten years with sell-side firms, including Smith Barney in New York and Dain Bosworth in Minneapolis. ‘Because I’ve done the analysis and been on the firing line, it helps me understand what analysts want and how to respond to them to let them do their job the best way they know how.’
