from the LA Times
Eddy Hartenstein (MS ’74) has stepped down as publisher and CEO of the Los Angeles Times to become nonexecutive chairman of the Tribune Publishing board. Hartenstein will serve on the board along with five outside directors.
Civic leader and former Wall Street investment banker Austin Beutner has become the the new publisher and chief executive of the Los Angeles Times.
Hartenstein said that he recommended Beutner for the position and that the board of Tribune Publishing Co., The Times’ new corporate parent, approved the appointment last week.
Hartenstein, 63, had led the Los Angeles Times since 2008, leading the newspaper, and later Tribune Co. (which will change its name to Tribune Media on Monday), during a four-year stay in Chapter 11 bankruptcy.
“It’s been an interesting journey,” Hartenstein said. “It’s one that I can look back on here, not only on Monday but for years to come, that speaks to the power of the various Tribune brands in their marketplace. I salute the women and men of Tribune Co., wherever they are — markets big, medium and small — for staying with it.”
A satellite TV pioneer, Hartenstein graduated with a bachelor's degree in aerospace engineering and math from California State Polytechnic University at Pomona in 1972 and added a master's degree in applied mechanics from Caltech. He started his career at California-based satellite company Hughes Electronics Corp., which was later acquired by General Motors.
In 1990, he was named to head a Hughes subsidiary developing direct-to-home satellite TV service, and four years later launched DirecTV, revolutionizing the subscription television landscape. He was named chairman and CEO in 2001, serving in that role until 2004, after GM sold its controlling stake in DirecTV to News Corp.
While publishing may not be rocket science, he was recruited by then-Tribune Co. Chairman Sam Zell to become publisher of the Los Angeles Times in August 2008 -- less than four months before the company filed for Chapter 11 bankruptcy. Hartenstein stayed the course and played an instrumental role in its reorganization and emergence under new owners.
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