Randy Michaels to top Tribune

Sam Zell names CEO, but remains chairman

Sam Zell has handed the CEO reins at Tribune Co. to his top lieutenant, Randy Michaels.

Zell will continue as Tribune chairman, but the move raised speculation that he’s prepping his exit from the company, which is wending its way through bankruptcy proceedings.

Michaels’ promotion recognizes that he has been functioning as CEO of the Chicago-based newspaper and TV station owner for some time. Michaels has also been elected to Tribune’s board of directors. The CEO shuffle comes a day after a bankruptcy court judge in Delaware set Feb. 28 as the deadline for Tribune execs to file a formal reorganization plan for the company. Tribune filed for Chapter 11 protection a year ago when it became clear the company could not maintain the heavy $13 billion debt load that it took on when Zell took the company private in December 2007.

Ultimately, Tribune is likely to have a new board of directors after it emerges from bankruptcy, and that board will make decisions on its senior management.

Michaels joined Tribune as exec veep-CEO of its broadcast and interactive divisions when the Zell-led takeover was completed in December 2007. He was upped to chief operating officer in May 2008.

More TV

  • ABC Panel - Roseanne

    Roseanne Barr Talks ABC Firing in Emotional Interview: 'I Definitely Feel Remorse'

    Sam Zell has handed the CEO reins at Tribune Co. to his top lieutenant, Randy Michaels. Zell will continue as Tribune chairman, but the move raised speculation that he’s prepping his exit from the company, which is wending its way through bankruptcy proceedings. Michaels’ promotion recognizes that he has been functioning as CEO of the […]

  • Univision logo

    Univision, Dish Spar Over Potential Blackout as Contract Deadline Looms

    Sam Zell has handed the CEO reins at Tribune Co. to his top lieutenant, Randy Michaels. Zell will continue as Tribune chairman, but the move raised speculation that he’s prepping his exit from the company, which is wending its way through bankruptcy proceedings. Michaels’ promotion recognizes that he has been functioning as CEO of the […]

  • DISNEY CHANNEL PRESENTS THE 2018 RADIO

    Janet Jackson, Kelly Clarkson, Carrie Underwood Honored at Radio Disney Music Awards

    Sam Zell has handed the CEO reins at Tribune Co. to his top lieutenant, Randy Michaels. Zell will continue as Tribune chairman, but the move raised speculation that he’s prepping his exit from the company, which is wending its way through bankruptcy proceedings. Michaels’ promotion recognizes that he has been functioning as CEO of the […]

  • Harry Kane of England celebrates scoring

    World Cup Live-Stream: How to Watch England vs. Panama

    Sam Zell has handed the CEO reins at Tribune Co. to his top lieutenant, Randy Michaels. Zell will continue as Tribune chairman, but the move raised speculation that he’s prepping his exit from the company, which is wending its way through bankruptcy proceedings. Michaels’ promotion recognizes that he has been functioning as CEO of the […]

  • No Merchandising. Editorial Use Only. No

    'Portlandia': Fred Armisen and Carrie Brownstein Pick Their Proudest Musical Moments

    Sam Zell has handed the CEO reins at Tribune Co. to his top lieutenant, Randy Michaels. Zell will continue as Tribune chairman, but the move raised speculation that he’s prepping his exit from the company, which is wending its way through bankruptcy proceedings. Michaels’ promotion recognizes that he has been functioning as CEO of the […]

  • NANTUCKET, MA - JUNE 23: (L-R)

    How Long Will TV and Film's Boom Market for Female Stories Last?

    Sam Zell has handed the CEO reins at Tribune Co. to his top lieutenant, Randy Michaels. Zell will continue as Tribune chairman, but the move raised speculation that he’s prepping his exit from the company, which is wending its way through bankruptcy proceedings. Michaels’ promotion recognizes that he has been functioning as CEO of the […]

  • Actors Kit Harington and Rose Leslie

    'Game of Thrones' Stars Rose Leslie and Kit Harington Married in Scotland

    Sam Zell has handed the CEO reins at Tribune Co. to his top lieutenant, Randy Michaels. Zell will continue as Tribune chairman, but the move raised speculation that he’s prepping his exit from the company, which is wending its way through bankruptcy proceedings. Michaels’ promotion recognizes that he has been functioning as CEO of the […]

More From Our Brands

Access exclusive content