Randy Michaels was named chief executive of Tribune Co. on Wednesday, succeeding Sam Zell, who remains chairman of the Chicago-based media concern that has been operating under Chapter 11 bankruptcy protection for nearly a year. Michaels, 57, joined Tribune Co.'s executive ranks when Zell took the company private in a debt-heavy December 2007 transaction, becoming its chief operating officer half a year later. With the elevation to CEO, Michaels also will join the Tribune Co. board. The company owns newspapers including The Baltimore Sun, the Chicago Tribune and the Los Angeles Times.

- Chicago Tribune