Tribune CEO to be replaced by 4-member panel: report

NEW YORK (BestGrowthStock) – Bankrupt newspaper publisher Tribune Co’s Chief Executive Randy Michaels will leave his position before the end of the week and be replaced by a four-member office of the president, the Chicago Tribune reported on its website, citing sources close to the matter.

The four members would include: Eddy Hartenstein, president and publisher of the Los Angeles Times; Tony Hunter, president and publisher of the Chicago Tribune Media Group; Nils Larsen, Tribune Co.’s chief investment officer; and Don Liebentritt, chief restructuring officer, the Chicago Tribune reported.

Tribune Co, whose portfolio of dailies includes the Chicago Tribune and the Los Angeles Times, filed for bankruptcy protection in 2008, less than a year after real estate developer Sam Zell closed an $8 billion leveraged buyout.

A spokesman for Tribune Co could not immediately be reached.

(Reporting by Phil Wahba; Editing by Dhara Ranasinghe)

Tribune CEO to be replaced by 4-member panel: report