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Earlier today I posted a blog about developments in the publishing industry: the Boston Globe's guild vote and the restructuring of the Tribune Company.
Over the past few days it's been reported that control of the Tribune Company, as it goes through its restructuring process, may pass from Chairman and CEO Sam Zell to investors holding the company's debt.
Based on my understanding about the restructuring and the way this deal works, it seems likely to me that Zell could end up being replaced. But I should make it clear that this is my opinion (this is, after all, a blog), and that Zell remains in control of the company.
The Tribune company responded to my blog with a clarification that nothing has been decided about the Company's future structure and that Zell retains his role.
"The headline indicates that Sam Zell is no longer Tribune’s Chairman and CEO, which is not true. Further, the article itself states that the company will “likely” emerge from bankruptcy without Zell. This too is inaccurate, as nothing about the structure has yet been decided.
The recent round of articles and media coverage on this topic stemmed from a Chicago Tribune article on Monday that simply named some of the possibilities on the table as the structure for Tribune Company gets worked out. I understand how the spiral of info leads to what seems like small differences, but they are significant to the many employees at the company.
Thank you for helping correct this error."
Questions? Comments?
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