Publisher OUT At The Los Angeles Times

Austin Beutner

Austin Beutner was fired Monday as publisher and CEO of the Los Angeles Times and San Diego Union-Tribune, according to The Chicago Tribune.

Beutner, who had been heading up the largest newspaper in the Chicago-based Tribune Publishing chain, was let go for what sources said was lagging financial performance and a series of expensive executive hires seen by some as a prelude to a potential political run for the city's former deputy mayor.

No successor has been named, according to sources, leaving the California News Group in limbo as Tribune Publishing looks to realign those operations with its broader portfolio, where the Chicago Tribune and other properties have outperformed it financially.

Beutner was named to his post in August 2014, one week after Tribune Publishing spun off from Tribune Media as a standalone newspaper company under CEO Jack Griffin.

In May, Tribune Publishing, which owns 11 daily newspapers, acquired the San Diego Union-Tribune for $85 million and put both operations under Beutner. Sources said Monday that Tribune Publishing was unhappy with financial performance of the two brands, specifically the Los Angeles Times, which represents a third of the company's revenue.