Thursday, December 3, 2009

Sam Zell Out as Tribune CEO

Sam Zell, the Chicago-based real estate honcho who bought Tribune Company and took it private, is no longer CEO of the company, reports Jeff Bercovici at Daily Finance. That will come as a pleasant change for those of us who have watched in horror as the Tribune has been lobotomized by incompetent slashing and burning (I know, mixed metaphors, but work with me here -- it's a real mess).

But it won't be a complete triumph. Notes Bercovici: "The bad news: As chairman, he'll 'continue to provide the management team with strategic oversight and vision' -- the same oversight and vision that guided Tribune into the ditch it currently occupies."

Tribune continues to struggle in bankruptcy. But it's staff might be a little bit happier now.

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