Randy Michaels named CEO of Tribune Co.
Zell remains chairman of the company, which owns the Los Angeles Times, KTLA-TV, the Chicago Tribune and several other media outlets.
Tribune filed for bankruptcy protection last year under a debt load of about $13 billion. Tuesday, a U.S. Bankruptcy Court judge extended until Feb. 28 the company's exclusive right to file a reorganization plan, turning down a challenge to that exclusivity by a group of creditors.
Michaels, who also joins the Tribune board, has been the company's chief operating officer since May 2008. In a statement, Zell said, "I have complete faith in Randy's judgment and leadership. No one will work harder for Tribune."
-- David Colker
Photo: Randy Michaels. Credit: Mark Boster / Los Angeles Times