facebook
twitter
search
search

CEO has big plans for Tribune Co.

July 26, 2010 at 11:47 PM

NEW YORK, July 26 (UPI) -- Tribune Co. Chief Executive Officer Randy Michaels says he will reduce duplication and look for new revenue streams to help the struggling U.S. media giant.

The 163-year-old company -- which includes eight major newspapers, such as the Los Angeles Times and the Chicago Tribune, and 23 local TV stations -- is expected to complete bankruptcy proceedings this summer, the Wall Street Journal said Monday.

"For there to be a printing plant in Miami, Ft. Lauderdale and Palm Beach (Fla.) is crazy. There's too much infrastructure," Michaels, a former radio executive, told the Journal. "On the TV side, this is an industry ready to consolidate. I believe my experience in helping people look rationally at opportunities to grow their business by intelligently consolidating regionally will be very helpful."

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
Kurds plan to carve state out of Iraq after fighting stops, leaders say
Kentucky clerk sued for refusing to issue same-sex marriage licenses
Van hauling fireworks catches fire on I-15 near California-Nevada border
Sean 'Diddy' Combs avoids felony rap for attacking UCLA coach
New Elvis stamp features a more toned-down King of Rock 'n' Roll