Eisner To Head Tribune?
Michael Eisner, who was forced out as CEO of the Walt Disney Co. in 2005, may become the next chairman of the Tribune Co., the Los Angeles Times reported today (Thursday), citing several people with knowledge of the situation. The Times is owned by Tribune, as are seven other newspapers, including the Chicago Tribune, and 22 TV stations, including KTLA, Los Angeles; WGN-TV, Chicago; and WPIX-TV, New York. The Times also reported that Jeff Shell, now a top executive at Comcast, would take over as CEO of Tribune. Tribune, which has declared bankruptcy, is currently wrangling with creditors over reorganization, and the Times indicated that until the two sides reach a settlement, it is unlikely that top management will be replaced. Backing the Eisner appointment is John Angelo of the hedge fund Angelo, Gordon & Co., a Tribune senior creditor, who has known the former Disney chief since childhood. Eisner devoted a chapter of his upcoming boo, Working Together Why Great Partnerships Succeed, to Angelo.