Sam Zell’s Idea of a Joke

The Tribune Co. issued this April Fool’s Day press release:

TRIBUNE COMPANY ANNOUNCES NAME CHANGE
Zell Tells Employees of Switch in an Email;

Company Announces Revenue Generating Efforts To Offset Debt

CHICAGO, April 1, 2008 — Tribune Company, the largest employee-owned media company in the nation, today announced it has changed its name to ZellCoMediaEnterprises Inc. or ZCMEINC. Zell, who made a fortune in real estate before deciding he’d like to dabble in an industry completely unfamiliar to him, announced the change in his record-setting 437th email to exhausted employees this year.

“H—, I put $315 million into this thing, and we’re on the hook for $13 billion — the least I ought to get is my name on the company’s stationery,” said Zell, who remains chairman and CEO of the newly named enterprise.

Which would be funny, if it were not totally and maddeningly possible.

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