Highlights
Chicagoan Sam Zell, a billionaire entrepreneur, is probably best known for his massive real estate holdings. In 2007, he sold his publicly traded US office portfolioEquity Office Properties Trustfor $39 billion in what was then considered the largest private equity transaction ever. A self-described "professional opportunist," he also has invested in companies around the world with holdings as varied as supermarkets, wineries, barges and compressors for the energy industry.
Ultimately, "I'm a capital markets person," he has said. In 2007, Zell led a transaction to take Tribune Co. private with an Employee Stock Ownership Plan in a deal valued at $8.2 billion. Zell is the chairman of...
Ultimately, "I'm a capital markets person," he has said. In 2007, Zell led a transaction to take Tribune Co. private with an Employee Stock Ownership Plan in a deal valued at $8.2 billion. Zell is the chairman of...
Chicagoan Sam Zell, a billionaire entrepreneur, is probably best known for his massive real estate holdings. In 2007, he sold his publicly traded US office portfolioEquity Office Properties Trustfor $39 billion in what was then considered the largest private equity transaction ever. A self-described "professional opportunist," he also has invested in companies around the world with holdings as varied as supermarkets, wineries, barges and compressors for the energy industry.
Ultimately, "I'm a capital markets person," he has said. In 2007, Zell led a transaction to take Tribune Co. private with an Employee Stock Ownership Plan in a deal valued at $8.2 billion. Zell is the chairman of five public companies and was positioned in late 2007 to become chairman of Tribune, with its roster of newspapers, radio and television stations. In the 1960s, while a student at the University of Michigan where he eventually earned a law degree, Zell started his real estate career managing southeast Michigan apartment buildings. Over time, he invested and diversified. "Generally, we like simple themes and real assets," he said. "It gives us something to work with, unlike the dot-coms. When they got into trouble, there were no assets there." During the real estate recession of the 1990s, he was a key force in transforming the nation's property industry from an idiosyncratic business with opaque finances to the much sought-after, publicly traded core asset class of recent years. As he scans investment opportunities, what matters most to him is effective management. "An average company with good management can be fine," he said. "A good company with lousy management won't succeed." Not conventionally buttoned-down, Zell tends to tread his own path. In his early business career, he shed the requisite suit and tie for jeans and sweaters. He is an avid skier, racquetball player and motorcyclist.
Ultimately, "I'm a capital markets person," he has said. In 2007, Zell led a transaction to take Tribune Co. private with an Employee Stock Ownership Plan in a deal valued at $8.2 billion. Zell is the chairman of five public companies and was positioned in late 2007 to become chairman of Tribune, with its roster of newspapers, radio and television stations. In the 1960s, while a student at the University of Michigan where he eventually earned a law degree, Zell started his real estate career managing southeast Michigan apartment buildings. Over time, he invested and diversified. "Generally, we like simple themes and real assets," he said. "It gives us something to work with, unlike the dot-coms. When they got into trouble, there were no assets there." During the real estate recession of the 1990s, he was a key force in transforming the nation's property industry from an idiosyncratic business with opaque finances to the much sought-after, publicly traded core asset class of recent years. As he scans investment opportunities, what matters most to him is effective management. "An average company with good management can be fine," he said. "A good company with lousy management won't succeed." Not conventionally buttoned-down, Zell tends to tread his own path. In his early business career, he shed the requisite suit and tie for jeans and sweaters. He is an avid skier, racquetball player and motorcyclist.
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Newsroom leaders named at Chicago Tribune
Tribune staff reporterGerould Kern, the freshly appointed editor of the Chicago Tribune, unveiled his new management team Thursday morning, naming Jane Hirt, the editor of Tribune's successful Red Eye edition, as managing editor, and Bill Adee, associate managing editor for...Tags: Tribune Co., Newspapers, Gerould W. Kern
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Chicago Tribune names managing editor
AP Business WriterChicago Tribune named Jane Hirt managing editor Thursday, continuing a shake-up of its top news staff. Hirt moves into a new position at the Tribune Co.'s flagship paper that combines two managing editor posts, one for news and the other for features....Tags: Marketing, Tribune Co., Advertising, Newspaper and Magazine, Newspapers
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When Only Red, White And Blue Oil Will Do
There are many things I want independence from — incoming e-mail, the section of my wedding vows about monogamy, this bogus corporation I created to lower my taxes but now takes up all of my time, Sam Zell — but foreign oil is not one of them....Tags: Wine, Beer, and Spirits, Hybrid and Green Vehicles, Fuel-efficient Vehicles, Petroleum Industry, Beverly Hills
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New Los Angeles Times Publisher Eddy Hartenstein asserts independence
Los Angeles Times Staff WritersThe Los Angeles Times' new publisher, Eddy Hartenstein, said Monday that the newspaper would operate with greater autonomy from its corporate parent in Chicago as it tried to reverse steep declines in circulation and revenue while overcoming the trauma of...Tags: Satellite Technology, Tribune Co., Newspaper and Magazine, Retirement, Management Change
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Hartenstein Named New L.A. Times Publisher
Los Angeles TimesLOS ANGELES -- Eddy Hartenstein, the former head of satellite television provider DirecTV, will become the new publisher of the Los Angeles Times on Monday. Hartenstein said Friday that he would fill the post vacated when publisher David Hiller...Tags: Engineering, Marketing, Tribune Co., Hillary Clinton, Management Change
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Former DirecTV head named LA Times publisher
Eddy Hartenstein, a former head of DirecTV, will become publisher of the Los Angeles Times, the newspaper reported Saturday. Hartenstein, a pioneering satellite television executive with no newspaper experience, will take over Monday. His job will be to...Tags: Satellite Technology, Academy of Television Arts and Sciences, Tribune Co., Newspaper and Magazine, Radio Industry
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McCain wins pro-sports owners' dollars
The Swampby Frank James Here's a way of analyzing campaign contributions that makes for sort of a dog-bites-man story--Republican Sen. John McCain has received much more in campaign contributions from professional sports-teams owners and their families than Sen....Tags: Tribune Co., Major League Baseball, Hillary Clinton, National Basketball Association, Barack Obama
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Tribune Co. reports $4.53 billion loss
Tribune Co., the parent of The Sun, plunged to a $4.53 billion loss in the second quarter after taking a $3.84 billion charge to write down the book value of its newspaper brands. The charge comes a day after E.W. Scripps Co. took a $874 million write-...Tags: EW Scripps Company, Chicago Real Estate, Tribune Co., Advertising, Newspaper and Magazine
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L.A. Times names Eddy Hartenstein to publisher's post
Los Angeles Times Staff WriterEddy Hartenstein, the former head of satellite television provider DirecTV, will become the new publisher of the Los Angeles Times on Monday. Hartenstein said Friday that he would fill the post vacated when publisher David Hiller resigned July 14, the...Tags: Engineering, Marketing, Tribune Co., Hillary Clinton, Management Change
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Chicago Tribune trims 14 pct of news staff
AP Business WriterThe Chicago Tribune carried out its plan to trim 14 percent of newsroom staff on Friday, as the Tribune Co.'s flagship paper moves to save $8.8 million in annual costs. The biggest Chicago daily, with average circulation of 541,663, laid off 80 newsroom...Tags: Marketing, Tribune Co., Newspaper and Magazine, Newspapers, Gerould W. Kern
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Baseball wary of Cubs sale structure
Chicago Tribune reporterTribune Co.'s desire to minimize its taxes when it unloads the Chicago Cubs sets the stage for a possible showdown with Major League Baseball. The Chicago-based media company is proposing a tax-avoidance strategy that likely would require a buyer to...Tags: Labor Legislation, Los Angeles Dodgers, State Budgets, Ceremonies, Tribune Co.
Aug 21, 2008
|Story| Chicago Tribune
Aug 21, 2008
|Story| Associated Press
Aug 20, 2008
|Resource Link| Los Angeles Times
Aug 18, 2008
|Story| Hartford Courant
Aug 18, 2008
|Story| Los Angeles Times
Aug 16, 2008
|Story| KTLA-TV
Aug 16, 2008
|Story| Associated Press
Aug 18, 2008
|Blog| Chicago Tribune
Aug 14, 2008
|Story| Baltimore Sun
Aug 16, 2008
|Story| Los Angeles Times
Aug 15, 2008
|Story| Associated Press
Aug 13, 2008
|Story| Chicago Tribune
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