Again, Michael Eisner Says It's 'Highly Unlikely' He'll Take Over Tribune
September 24, 2010 at 4:28 AM (PT)
The possibility that former DISNEY CEO MICHAEL EISNER will take over the reins at TRIBUNE CO. met with more denials THURSDAY (9/23), from EISNER himself and from an "insider" at the company.
EISNER repeated his assertion that it is "highly unlikely" he will take over as Chairman at TRIBUNE in an interview with BLOOMBERG TV. EISNER previously denied he is in line for the TRIBUNE job in interviews with CNBC's MARIA BARTIROMO and CH HOLDINGS Talk KTRS-A/ST. LOUIS' MCGRAW MILHAVEN.
Meanwhile, FORBES.COM's STEVEN BERTONI reported that a TRIBUNE director told him, “The name MICHAEL EISNER has never been uttered in any board conversation.” The source told BERTONI that the board does not know where the talk about EISNER originated and "must first focus on emerging from bankruptcy and repair current revenue streams before even considering a change at the top." The director also told BERTONI that the board is happy with the performance of present CEO RANDY MICHAELS.
And the Official Committee of Unsecured Creditors lost its bid to replace its lead law firm, with the court denying its motion to dismiss CHADBOURNE AND PARKE LLP from the mediation of TRIBUNE's reorganization plan over conflicts of interest. Creditor AURELIUS CAPITAL MANAGEMENT LP also moved to dismiss the law firm from the mediation and from any action regarding the TRIBUNE 2007 buyout, but the court turned the motions down on WEDNESDAY.