All those reports that the Tribune Co.’s new boss would soon be Michael Eisner, if the company can ever get out of its bankruptcy proceedings, might have been premature. Eisner, of course, has continually downplayed the idea, but other whispers kept the story alive. Now, Forbes reports that the issue of who will helm the company once it has exited bankruptcy has yet to even been discussed.

And a big reason why Tribune, which owns the Chicago Tribune and Los Angeles Times among other titles, hasn’t discussed the future head of the company? Because no one knows who will actually own the company.

Forbes reporter Steven Bertoni writes:

But my Tribune source says that the board must first focus on emerging from bankruptcy and repair current revenue streams before even considering a change at the top. The Tribune director also said the board was pleased with the performance of current CEO, Randy Michaels.

More importantly, it is still unclear about which creditors will be in control of the reorganized Tribune once it emerges from bankruptcy. Basically, no one has the power to install new leadership at the moment.

But if it hasn’t been discussed, then Eisner is still technically in the running, right? That rumor just won’t die.

Former Disney chairman and CEO Michael Eisner is in talks to become chairman of the board of The Tribune Co., reports the LA Times.

Tribune Co., which owns the LA Times as well as the Chicago Tribune, has been going through a messy bankruptcy that’s lasted nearly two years.

Eisner, who would replace Sam Zell as chairman, would be joined by Jeff Shell, a former News Corp exec who’s now working at Comcast, who would replace current chief executive Randy Michaels.

Neither Eisner or Shell would comment for the LAT’s story, but rumor has it that Eisner has been looking for a challenge since leaving Disney in 2005.

If the deal goes through, which is not a sure thing since the company still hasn’t worked out an acceptable plan with its creditors, look for the LAT to launch a new section: All Hannah Montana, all the time.

photo: Marmella