According to an article in the Tampa Bay Business Journal, the trust of the late Marion Poynter has filed a lawsuit against the Tampa Bay Times, claiming that the newspaper owes $7.1 million in unpaid debt.
“According to a complaint filed on March 25 in U.S. District Court in Virginia, the Times has failed to meet the repayment terms outlined in a 2018 settlement,” Tampa Bay Business Joural reported. “This settlement followed a previous lawsuit regarding a $7.8 million loan and required the Times to make monthly payments of $60,000. Since July 2020, the newspaper has allegedly made inconsistent partial payments.”
Marion Poynter, the widow of Times founder Nelson Poynter, passed away in 2024. Her trust is currently represented by trustee and attorney Mark F. Hyson.
In response, a spokesperson for the Times stated that the trust received nearly $29 million from the newspaper during Marion Poynter’s lifetime. The spokesperson described the lawsuit as “unfortunate” and expressed hope for an amicable resolution.
This lawsuit arises during a time of financial struggles for the 140-year-old Pulitzer Prize-winning newspaper, which announced layoffs in August 2024. This marked the second round of layoffs since 2020, as the paper seeks to reduce its payroll by 20% due to declining revenue.
