The parent company of the Arizona Capitol Times announced June 30 that it has appointed a new CEO.
Mark A. McEachen, 56, will take his new position at The Dolan Company on July 7, bringing years of leadership experience in the media, information and entertainment industries.
“We’ve got some great business properties,” McEachen said of the firm’s publications. “Now we can harness all of our energy to grow this company.”
The Dolan Company owns business journals, legal publications and other niche print and web products in 19 geographic markets.
McEachen most recently served as executive vice president and chief operating officer of Freedom Communications Inc., a California-based information and entertainment company with print publications and interactive online media operations. He has also worked at Fabrik Inc. and BridgeCo Inc.
“Mark’s successful track record in the media and information industry makes him the right person to lead Dolan to new levels of success,” said Sean Britain, a member of the board of directors and a principal at Bayside Capital Inc., which manages investment funds that own a majority of The Dolan Company. “He is a proven leader who will build upon the company’s strong foundation.”
Christopher A. Eddings, vice president, Business Information Division of The Dolan Company, said: “I am delighted by the opportunity to work with Mark. His ability and experience will be a real asset to our company going forward.”
The appointment comes within weeks of The Dolan Company’s emergence from Chapter 11 bankruptcy. The prepackaged bankruptcy lasted 81 days and allowed the company to reduce its debt by about $100 million, to about $50 million.
Along with the restructuring plan came the announcement that James P. Dolan, founder and former president and CEO of The Dolan Company, would be resigning. Scott J. Pollei, former executive vice president and chief operating officer, also resigned.
McEachen has experience leading a newly restructured company. He started at Freedom as chief restructuring officer, senior vice president and chief financial officer in 2009, just before Freedom filed for Chapter 11 protection.
“I think that background of running those properties really was a good tune-up to come in here,” he said. “It’s very, very similar to Freedom. The only difference is I don’t have to worry about the restructuring part.”
Freedom’s restructuring process lasted eight months, and the company emerged in March 2010. McEachen was then promoted to chief operating officer and chief financial officer.
Freedom was bought by a private equity firm, 2100 Trust, in 2012. In June 2013, McEachen was let go, along with former CEO Mitchell Stern. The two later sued Freedom, saying the company ows them sizeable severance payments. The case is still open, McEachen said.
Since leaving Freedom, McEachen continued to serve as a director of Dex Media Inc. until this past May. That company also went through a restructure. In April he joined the board of BJ’s Restaurants Inc.
McEachen will work out of Dolan’s Minneapolis headquarters, but says he plans to “be living on an airplane,” as he visits the company’s various locations throughout the country.
“I am the type of CEO that likes to go where the verb occurs,” he said.