Tribune Co. Names New CEO, Zell Still Chairman Though

Chicago Tribune’s Phil Rosenthal writes:

Randy Michaels today was named chief executive of Tribune Co., succeeding Sam Zell, who remains chairman of the Chicago-based media concern that has been operating under Chapter 11 bankruptcy protection for nearly a year.

Michaels, 57, joined Tribune Co.’s executive ranks when Zell took the company private in a debt-heavy December 2007 transaction, becoming its chief operating officer half a year later. With the elevation to CEO, Michaels also will join the Tribune Co. board.

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