Report: Randy Michaels Poised To Resign

Randy Michaels, Tribune Co.'s embattled chief executive, has decided to resign his post at the Chicago-based media company and intends to leave the company before the end of the week, sources close to the situation said.

The Chciago Tribune reports he will be replaced by a four-member office of the president that the sources said would comprise Eddy Hartenstein, president and publisher of the Los Angeles Times; Tony Hunter, president and publisher of the Chicago Tribune Media Group; Nils Larsen, Tribune Co.'s chief investment officer; and Don Liebentritt, chief restructuring officer.

The development comes after weeks of turmoil at the bankrupt company, brought on by assertions that Michaels and his management team displayed boorish behavior and fostered a sexist, hostile work environment. Even as the Tribune Co. board met Tuesday to discuss Michaels' fate in light of the crisis, new complaints by current and former employees were emerging.

A spokesman for Tribune Co., which owns the Chicago Tribune, Los Angeles Times and other media properties, would not comment on Michaels' planned departure or the proposed succession plan. Michaels and the other executives involved did not return calls and e-mails seeking comment.

Read more here.