Randy Michaels sends this e-mail to LAT staffers (well, the ones who are left, anyway):

I want to let you know that David Hiller has decided to step down as publisher of The Los Angeles Times, effective immediately. David took over as publisher in October 2006, during a difficult period for the newspaper and has performed with distinction since that time. During the last six months, he has helped The Times begin making the transition to new ownership, facing new realities. Part of that transition must now include a new publisher.

We are already in the process of identifying the right person to lead The Times going forward. We expect to name a new publisher by the end of the summer. In the meantime, executive vice president and chief administrative officer Gerry Spector and I will oversee all operations at The Times. Russ Stanton and his team are well underway with their work on the redesign of the paper and that work will, of course, continue at a quick pace.

The Los Angeles Times is a great newspaper with a talented and dedicated staff. Let's do everything we can to keep it focused on future success.

Randy

[Update: FBNY summarizes today's dizzying news here.]