CEO has big plans for Tribune Co.

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CEO has big plans for Tribune Co.

NEW YORK, Tribune Co. Chief Executive Officer Randy Michaels says he will is reduce duplication and look for new revenue streams to help the struggling U.S. media giant.

The 163-year-old company -- which includes eight major newspapers, such as the Los Angeles Times and the Chicago Tribune, and 23 local TV stations -- is expected to complete bankruptcy proceedings this summer, the Wall Street Journal said Monday.

"For there to be a printing plant in Miami, Ft. Lauderdale and Palm Beach (Fla.) is crazy. There's too much infrastructure," Michaels, a former radio executive, told the Journal. "On the TV side, this is an industry ready to consolidate. I believe my experience in helping people look rationally at opportunities to grow their business by intelligently consolidating regionally will be very helpful."
 
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