Tribune Fires Ceo Randy Michaels: Nyt

The New York Times is reporting that the Tribune Co. will ask for the resignation of CEO Randy Michaels on Tuesday.According to an insider who spoke to the paper, the Tribune board has lost confidence in Michaels' stewardship of the company.Tribune has faced financial difficulties for years; a debt-laden purchase by real estate mogul Sam Zell in 2007 did not lift the company out of its economic slump, and it filed for bankruptcy in December 2008, less than a year after Zell bought it.

 

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