ProJo parent pays COO $1.7M and $90M in dividends amid layoffs

THE PARENT COMPANY of The Providence Journal paid its chief operating officer $1.7 million in 2018, paid more than $90 million in dividends and paid its management company $24.5 million for the year, amid widespread layoffs at its newspapers around the country. / PBN FILE PHOTO/BRIAN MCDONALD
THE PARENT COMPANY of The Providence Journal paid its chief operating officer $1.7 million in 2018, paid more than $90 million in dividends and paid its management company $24.5 million for the year, amid widespread layoffs at its newspapers around the country. / PBN FILE PHOTO/BRIAN MCDONALD
PROVIDENCE – New Media Investment Group Inc. paid Kirk Davis, its chief operating officer, $1.7 million in 2018, slightly less than what Davis earned in 2017, according to a proxy statement filed Friday. Davis was reported to have a $550,00 salary and received $400,000 in bonuses, $750,000 in stock awards and $3,092 in 401(k) contributions for…

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