Zell chats with Tribune reporters about company's future

Tribune Co. CEO, and resident quote machine, Sam Zell detailed the future of his newspaper chain - operator of the Chicago Tribune, Los Angeles...

Tribune Co. CEO, and resident quote machine, Sam Zell detailed the future of his newspaper chain - operator of the Chicago Tribune, Los Angeles Times, and others - during a conference call with reporters on July 23.

Here’s how Tribune’s newspapers covered it:

  • The Baltimore Sun notes that Zell said he may need to reduce staff by as much as 25% in some newsrooms, and would not directly answer whether he’s planning future sales after that of the Chicago Cubs. Quote: “We’re not interested in trial by torture, not interested in dying by a thousand cuts.”

  • The Hartford Courant, which expects a 25% newsroom staff cut by 2010, recalls that Zell was applauded by his editorial staff in January for saying that he would resist newsroom cuts. Quote (from January): “I do not believe that anybody can grow a business by reducing the number of employees…It is not our game plan to, in effect, try and figure out how few people we can have run this business.”

  • Newsday reports that Zell said his $650 million deal to sell the newspaper to Cablevision could close as early as next week. Asked “what went wrong”since he bought the chain, Zell responded: “I don’t know that anybody has a frame of reference on advertising revenue destruction that in effect is as bad as this going all the way back to the Depression.”

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.