The Tribune Co. has named Randy Michaels as CEO, the Chicago Tribune’s Phil Rosenthal reports. He replaces Sam Zell, who continues as chairman of the struggling media company.
This is a timely shift. Yesterday, a Delaware-based bankruptcy judge granted the company an extension until February to file a Chapter 11 reorganization plan. Zell took the company private three years ago for $8.2 billion, incurring a pile of debt.
Michaels was previously COO of Tribune Co, which owns the Chicago Trib, the Los Angeles Times among other newspaper and broadcasting properties.
Born Benjamin Homel, Michaels soared to success as a larger-than-life radio shock jock and eventually ran Clear Channel.
From a 2001 Salon.com profile:
Behind the mike he made a name for himself back in the ’70s and ’80s farting on the air, cracking jokes about gays and tantalising listeners with descriptions of “incredibly horny, wet and ready” naked in-studio guests. Along with getting hit with a sexual harassment suit, Michael pulled in big ratings wherever he went.
Just what the newspaper company needs!
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