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News
Five Tribune execs are out of the $40M bonus pool, says a bankruptcy judge
Those executives, including the CFO and Senior VP of Financial Operations, are the objects of potential claims resulting from
the late-2007 buyout led by Sam Zell. They might be
defendants, and therefore both the creditors committee and the U.S. Bankruptcy
Trustee objected to their receiving 2010 bonuses until their
status is resolved. The company at first resisted their exclusion and then agreed. The Chicago Tribune says that instead of having 640 Tribune staffers in the bonus pool that could be worth $40 million, there will be 635. Also: Former CEO Randy Michaels is still negotiating his exit package, and is not one of the 635 people included in this decision by a federal bankruptcy court judge in Delaware. It is unclear in Wednesday’s court decision what kind of bonus is due to what the Chicago Tribune calls “11 members of [Michaels'] team who also have departed the company” in recent days. That would include former Clear Channel programmer Marc Chase.
Previous and Next Stories
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A DJ is arrested for burglary – of a competing DJ's house
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Pugs & Kelly reunite long-distance in Dallas
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Making Moves: Wednesday, November 10, 2010
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R.I.P., Seattle's "Funky Monkey" KFNK, now "Gen-X"
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Jim Graci is named PD of news/talk KLIF in Dallas
- 34-season play-by-play man David Niehaus of the Seattle Mariners dies
- Salem Communications enters the Providence market, buying WDDZ (550)
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- Emmis finds financial relief through another LMA. This one’s worth $8,43...
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NYC radio personality and music authority Pete Fornatale dies at 66
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Making Moves: Thursday, April 26, 2012
- Mark OBrien named market manager of CC Jacksonville
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FCC proposes rules allowing non-comms to raise money for catastrophic ev...
- Journal's radio revenues up in 1Q 2012
- SAG-AFTRA threatens to stop music video performers in their tracks
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Now what happens at WBLS, New York and with the Kiss staff?























