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Chicago Tribune publisher resigns

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Posted by chicagomedia.org on June 13, 2008 at 09:32:13:

Tribune publisher resigns, cites differences with Zell

The publisher of the Chicago Tribune said Thursday that he's resigning, a sign that deep job cuts will start at the newspaper this summer.

Scott Smith, 57, told employees in a memo that he will step down once a successor is found. Randy Michaels, chief operating officer of Tribune Co., said in separate memo that Smith's replacement probably will be named soon.

Smith is a 30-year Tribune Co. employee and has been publisher of its flagship newspaper since 1997, except for a stint from 2004 to 2006 when David Hiller took over in an executive shuffling. Smith again assumed the publisher's role when Hiller was transferred to the Tribune-owned Los Angeles Times.

In his memo, Smith alluded to a clash of styles and views with Tribune Co. boss Sam Zell, who took over the media company in a highly leveraged buyout late last year.

"Sam, Randy and I agree it's time for new leadership to lead the next wave of market-driven change in our business," Smith wrote.

He also said, "The new era has brought fresh perspectives that I sought to blend effectively with established Tribune strengths, starting with the very talented people steadfastly dedicated to our success."

Last week, Zell and Michaels put out word of future job cuts and reductions in the number of pages at Tribune-owned newspapers. Michaels said some decisions about newsroom personnel could be based on the company's counts of bylines.

Zell repeatedly has broadcast his intention to slash costs at Tribune newspapers to meet debt payments and reflect loss of advertising.

Michaels praised Smith's contribution to the company. He said Smith helped Tribune go public in 1983 and formerly served as publisher of its South Florida Sun-Sentinel.

The company has trimmed about 100 jobs at the Chicago Tribune through early-retirement buyouts. Many more positions in the approximately 570-person newsroom are expected to be cut.

Meanwhile, Zell has leased a 23rd floor office in Tribune Tower, 435 N. Michigan, to a new investment firm run by his sister, Leah Zell Wanger. The firm, Lizard Investors LLC, leased 7,500 square-feet on the 23rd floor that a source said has been vacant for a couple years. Former Tribune Chairman Dennis FitzSimons once used the space for his office.

(Sun-Times)

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: Tribune publisher resigns, cites differences with Zell : : The publisher of the Chicago Tribune said Thursday that he's resigning, a sign that deep job cuts will start at the newspaper this summer. : Scott Smith, 57, told employees in a memo that he will step down once a successor is found. Randy Michaels, chief operating officer of Tribune Co., said in separate memo that Smith's replacement probably will be named soon. : Smith is a 30-year Tribune Co. employee and has been publisher of its flagship newspaper since 1997, except for a stint from 2004 to 2006 when David Hiller took over in an executive shuffling. Smith again assumed the publisher's role when Hiller was transferred to the Tribune-owned Los Angeles Times. : In his memo, Smith alluded to a clash of styles and views with Tribune Co. boss Sam Zell, who took over the media company in a highly leveraged buyout late last year. : "Sam, Randy and I agree it's time for new leadership to lead the next wave of market-driven change in our business," Smith wrote. : He also said, "The new era has brought fresh perspectives that I sought to blend effectively with established Tribune strengths, starting with the very talented people steadfastly dedicated to our success." : Last week, Zell and Michaels put out word of future job cuts and reductions in the number of pages at Tribune-owned newspapers. Michaels said some decisions about newsroom personnel could be based on the company's counts of bylines. : Zell repeatedly has broadcast his intention to slash costs at Tribune newspapers to meet debt payments and reflect loss of advertising. : Michaels praised Smith's contribution to the company. He said Smith helped Tribune go public in 1983 and formerly served as publisher of its South Florida Sun-Sentinel. : The company has trimmed about 100 jobs at the Chicago Tribune through early-retirement buyouts. Many more positions in the approximately 570-person newsroom are expected to be cut. : Meanwhile, Zell has leased a 23rd floor office in Tribune Tower, 435 N. Michigan, to a new investment firm run by his sister, Leah Zell Wanger. The firm, Lizard Investors LLC, leased 7,500 square-feet on the 23rd floor that a source said has been vacant for a couple years. Former Tribune Chairman Dennis FitzSimons once used the space for his office. : : (Sun-Times)

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