Ninety days into his tenure, Tribune CEO Sam Zell says his main challenges are declining ad revenue and putting a company-wide culture change into effect.
Zell says he’s pleased at the progress the company has made. He says more than 3,000 emails he’s gotten from staff convince him that, by and large, they’re interested in change.
ZELL: If you’d sat on my shoulder reading these emails over the last 3 months, late into the night I might add, you’d come away and you’d say these people care, these people, have a vested interest in making this company work.
Zell has already replaced or promoted much of Tribune’s top brass, bringing in new blood from television and radio. Tribune newspapers have also faced significant cuts. Zell added that eroding ad revenue may lead to selling more of the company’s assets. He says discussions are well under way regarding the Chicago Cubs and Wrigley Field. And that the sale of Long Island-based Newsday is under discussion.