Michael Eisner, who, you may recall, is the former CEO of the Walt Disney Company, has been drafted to run the financially troubled Tribune Company by bankers who aim to take over the company from its current leaders. Eisner, who has been active in online media companies since leaving Disney is expected to help recover as much of the bank’s investments as possible by moving the Tribune Company into new profit areas.
Among its properties, Tribune owns a TV station in Los Angeles, and papers in Orlando and Los Angeles, both big Disney territories. It is also one of the largest employee owned companies, but the organization is not really set up so that the employees actually profit or have any say in how the company is run. That’s not expected to change if Eisner takes over.
This move has been rumored for a few days, but today The Wrap declares is practically a done deal.