Former Disney Co. chief Michael Eisner denied rumors Tuesday morning that he will become chairman of a post-bankruptcy Tribune Co.

In an interview with WGN-720 AM host Greg Jarrett, Eisner acknowledged that he had bought Tribune debt as an investment and knew some of the principals involved, but said a journalist “put 2 and 2 together and got 11″ in speculating that Eisner would move into the top job at Tribune.

“The rumor escalated to the point where I lost control of it,” he said.

Noting his familiarity with Tribune media holdings and past management, he said he felt comfortable serving in an advisory role.

“Does that mean I’m going to run it? No, I’m not going to run it,” he said.