3:17 pm, June 21st | by Hillary Reinsberg
How’s this for comeback tale? After a year of tragically bad press, Randy Michaels, Sam Zell‘s former right hand man at The Tribune Company, is returning to his radio roots. Michaels’ new company just bought up three Chicago and New York radio stations, according to The New York Times.
In October, the Times published a particularly scathing and unflattering profile of the Tribune Company, which publishes The Chicago Tribune and was purchased by real estate mogul Sam Zell. Zell had essentially zero experience in newspaper publishing and is credited with saddling the company with $13 billion in debt, which forced it to declare bankruptcy. Ouch. Amazingly enough, this isn’t the worst management decision Zell made with Tribune.