Tribune’s $8.2 billion buyout is now officially closed. And immediately after taking control of the newly private company, real estate magnate Sam Zell began a shake up at the newspaper and TV company. He reshuffled the board and named new executives to head the broadcast and internet operations as well as a new chief administrative officer.
Tvnewsday reports that although he plans no immediate asset sales, Zell made clear changes are coming.
Shortly before Zell’s takeover, Dennis FitzSimons, Tribune Co.’s Chairman and CEO announced he is retiring from the company at the end of the year.