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Zell Names Tribune TV-Web Boss

Dec 21, 2007  •  Post A Comment

Sam Zell, the real estate magnate, completed his $8.2 billion buyout of Tribune Co. and named Randy Michaels chief executive of Tribune’s interactive and broadcasting businesses.
Mr. Michaels has worked for Mr. Zell before as president and co-chief operating officer at radio group Jacor Communications. In their previous work together in the 1990s, Mr. Michaels concentrated on operations and Mr. Zell on strategy, which resulted in tremendous growth at the company. Mr. Zell sold Jacor to Clear Channel Communications in 1998 for $4.4 billion.
Mr. Michaels worked at Clear Channel, but eventually left. He had run Local TV LLC, a group of nine TV stations, for the past year. Mr. Michaels introduced more aggressive sales techniques drawn from the radio business. Tribune said it had agreed to create a management company with Local TV to offer shared services to Tribune and Local TV stations.
Tribune also named a new board. Mr. Zell is chairman and chief executive. New directors include Jeff Berg, chairman of International Creative Management, and Jeff Greenspun, editor of the Las Vegas Sun. Betsy Holden and William Osborn, two members of the old board, will remain.
(Editor: Baumann)

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