Fitzsimons expected to quit Tribune

By Kevin Roderick

With the Zellionaire's takeover of Tribune expected to close this week, the L.A. Times and the Chicago Tribune are reporting that chairman and chief executive Dennis J. FitzSimons could resign as soon as tomorrow. The Tribune, though, says there are some late-hour snags in the Sam Zell acquisition and that "FitzSimons would likely stay on until the transaction is finalized." Bankers are still skittish about the numbers and demanding answers before signing off. When the deal goes through, Zell would become chairman of the newly private Tribune Company, which owns the Times and KTLA here, as well as the Tribune, media properties around the country and the Chicago Cubs.

Los Angeles Times
Dennis FitzSimons would be leaving just before the buyout of the company is completed. He could walk away with as much as $40 million.

Chicago Tribune
Tribune facing an 11th-hour grilling.