The group appoints interim leadership as veteran leader Rusty Coats steps down. Until a permanent replacement is selected, Tom Sly, VP of revenue for national media at the E.W. Scripps Co., will fill the slot.
The Local Media Consortium (LMC) today announced it is launching a nationwide search for a CEO. CEO Rusty Coats announced his resignation this week after seven years of leading the LMC.
“The LMC team grew organically over the years to serve its members and has consistently delivered more than $100 million in digital revenues for local media companies over the past two years,” said Coats. “I’m proud that we formed a sustainable company that will benefit local media — and its communities — for years to come. I’m grateful for the team we built and the partnerships we’ve forged with major digital platforms — and I am confident that will continue.”
The board’s search for a new CEO will be led by Gary Smith of the Seattle Times.
Until a permanent CEO is selected, Tom Sly, vice president of revenue for national media at the E.W. Scripps Co., will serve in the volunteer role of interim CEO. In this capacity, Sly will help oversee strategy for the organization, while day-to-day operations are handled by Chris Hendricks, the founding member of the LMC. Sly has served on the LMC board of directors since 2013.
With more than two decades of industry experience, Sly focuses on growing diversified revenue streams through Scripps’ National Media businesses. He also oversees the company’s programmatic advertising strategies across its local media and national media divisions. His role with the LMC will be in addition to his ongoing responsibilities with Scripps.
“On behalf of the LMC board, we thank Rusty Coats, who has played a vital role in advancing the LMC’s mission and has been a major advocate for the power of local journalism,” said Chris Loretto, board chairman of the LMC and executive vice president at Digital First Media. “Under Rusty’s leadership, the LMC has grown to encompass 75 members representing more than 2,200 digital properties. The LMC is grateful for his dedication and efforts in helping to build the LMC. We also want to thank Tom for stepping in to provide leadership during this transition.”