COM 150, 209, 317: New owner of Tribune Co.

Sam Zell, the Chicago enterpreneur who is buying landmark local media conglomorate Tribune Co., was interviewed by Trib business reporters and editors for today's paper. It's interesting reading. Not only interesting. I'd say it's "must" reading for people who want careers in the newspaper business ... or who plan to go on reading newspapers in a changing economy.

Some of Zell's thoughts on the future of newspapering:

"If you are relevant, people are going to buy the newspaper," he said. "If you're not relevant, then people will stop buying the newspaper and stop advertising and we'll all be in a stew of trouble.

"I use that word 'relevant' and I'll be the first to tell you I don't know what it means other than, in effect, ultimately just like anybody, you have customers, and some way or another we have to find a way how to service them. I don't have an opinion as to what you write, believe it or not, other than what you write has to be truthful and relevant. And if it is, then I think the customer is there for you, and that translates into viable businesses."

He is investing in Tribune because he sees it as "a great challenge. … Everything I do is motivated by doing it best, doing it different, answering the questions that no one else could."

And on newspapering in general:

Asked about the relationship between editorial excellence and profit, Zell said quality matters. But he noted: "I really believe you can be relevant and editorially spectacular. And I think you can be irrelevant and editorially spectacular. The name of the game is to be the former and not the latter."

Zell said his favorite columnists are Charles Krauthammer, whose syndicated column runs in the Chicago Tribune, and the New York Times' Thomas Friedman and David Brooks.

"I don't pay much attention to the LA Times editorial page," he said.

Zell said he does not intend to influence the editorial policies and reporting of Tribune Co. newspapers.

"Do I look naive enough to think I have any influence about what people write?" he asked. "In fact, I will accept that your writing on me is gong to be, hard to believe, worse than it has been."

Asked what he would do if the newspaper were preparing an unflattering profile of him, Zell cut in: "You already did, you already did."