Tribune Co. finds its man: Peter Liguori
November 19, 2012
The Tribune Co. saga is poised to take yet another turn this week.
Peter Liguori, the well-respected veteran TV executive who has worked for FX, Fox and Discovery, is expected to be named the new chief executive officer of the company.
The Chicago Tribune, which is part of the Tribune Co., broke the news on Friday.
Main creditors Oaktree Capital Management, Angelo, Gordon & Co., and JPMorgan Chase are expected to take over Tribune at year’s end following four years in bankruptcy.
Tribune owns 23 TV stations in addition to its newspapers, and Liguori’s broadcast experience is seen as the main reason why he’s been selected for the job.
The company has been in disarray for some time, enacting deep staff cuts at its newspapers over recent years following a decline in advertising revenue.
It has also been rocked by management disputes and controversies after being bought by Sam Zell more than five years ago.
A virtual who’s who of media have been rumored to be in contention for the job, including “Katie” executive producer and former NBCUniversal president Jeff Zucker.
Eddy Hartenstein, the publisher of the Los Angeles Times, is currently the company’s CEO.
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