06/14/2008 05:12 am ET Updated May 25, 2011

Tribune Planning Big Cuts: Fewer Papers, Firing Reporters

Tribune Company newspapers like The Los Angeles Times and The Chicago Tribune will quickly cut costs -- by printing fewer papers and employing fewer journalists -- top company executives said on Thursday.

Samuel Zell, the chairman and chief executive of Tribune, and Randy Michaels, the company's chief operating officer, revealed the cuts during a conference call with Wall Street analysts.

They also said the struggling company has looked at the column inches of news produced by each reporter, and by each paper's news staff. Finding wide variation, they said, they have concluded that it could do without a large number of news employees and not lose much content.

Mr. Michaels said of the changes, "This is going to happen quickly."

Mr. Zell said, "I promise you he's underestimating the level of aggressiveness with which we are attacking this whole challenge."

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