Wednesday, May 07, 2008
Tribune Names Randy Michaels Chief Operating Officer
CHICAGO, May 7, 2008 -- Tribune Company today announced that Randy Michaels has been named chief operating officer, responsible for all aspects of the company’s publishing,broadcasting and interactive divisions. The appointment is effective immediately.
“Randy is one of the most creative human beings I’ve ever known,” said Sam Zell, Tribune’s chairman and chief executive officer. “But he is exactly what Tribune needs to keep moving forward—smart, decisive, relentless, irreverent, fun and cutting edge.”
Michaels had been serving as executive vice president and chief executive officer of Tribune’s interactive and broadcast divisions, a post he assumed on Dec. 20, 2007, when the company completed its going-private transaction.
“The advertising environment is tough, the real estate crisis is affecting our classifieds something awful, and people are saying ‘newspapers are dead,’” said Michaels. “So, naturally, I want to take on even more responsibility for our print business.” He added, “Despite the problems, we have world-class brands with unlimited potential. We’re in the biggest markets and print still grabs a bigger share of advertising revenue than any other medium. On the broadcasting side, our TV
stations are leading the industry in growth. By using the resources and support of these amazing brands, we can also build tremendously strong interactive businesses. There is a lot of upside here.”