• Reuters, Friday, June 13, 2008 10:15 AM

Scott Smith, the head of Tribune Co.'s publishing division and publisher of the Chicago Tribune is retiring after 30 years at the company. The news comes a week after the company's chief executive and Chicago real estate tycoon Sam Zell said he would overhaul the newspapers to cut costs and try to attract more readers.

Smith began working at Tribune in 1977 and will stay at his post until a successor is named. "It's time for new leadership to lead the next wave of market-driven change in our business," Smith wrote in a memo to employees on Thursday.

The next step in Zell's plan for the Tribune Co. is to sell the Chicago Cubs baseball team and the Wrigley Field ballpark in Chicago.

Read the whole story at Reuters »