Posted by chicagomedia.org on May 07, 2008 at 18:38:49:
Tribune Co. names radio industry veteran as its new COO
Associated Press
5:15 PM CDT, May 7, 2008
CHICAGO - Tribune Co. named Randy Michaels as its new chief operating officer on Wednesday, putting the radio industry veteran in charge of newspapers and broadcasting at the media conglomerate.
Michaels, a longtime associate of CEO Sam Zell who had headed Tribune's broadcast and Internet operations for 4 months, is now responsible for all aspects of its newspaper, broadcasting and interactive divisions.
Before Zell took charge of Tribune last year, Michaels helped him turn around radio company Jacor Communications.
Zell, who had not previously named a chief operating officer at Tribune, called him "exactly what Tribune needs to keep moving forward: smart, decisive, relentless, irreverent, fun and cutting-edge."
Despite a difficult advertising environment for an industry in steep decline, Michaels said the company has world-class brands and that he sees a lot of upside.
"We're in the biggest markets and print still grabs a bigger share of advertising revenue than any other medium," he said. "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," Michaels said.