Sam Zell to Leave Tribune Co. After Bankruptcy
"I will turn it over to whoever the creditors decide they want to run it, and wish them a lot of good luck," says the chairman.
Tribune Co. chairman Sam Zell told CNBC Monday that he doesn't see himself having an operating role in the media firm after it emerges from bankruptcy.
"I think when we're done with the bankruptcy process I will turn it over to whoever the creditors decide they want to run it, and wish them a lot of good luck," Zell said, according to the Wall Street Journal.
Creditors have been looking for executives to possibly fill the CEO and chairman roles at Tribune. They're also expected to sue Zell.
Former Walt Disney CEO Michael Eisner and former News Corp. president and COO Peter Chernin have been mentioned in the past as potential chairmen.