What’s next for post-bankruptcy Tribune Co.
January 2, 2013
Now that Tribune Co. has finally emerged from bankruptcy, a four-year process that followed the company’s purchase by billionaire Sam Zell, the question is where will it go from here?
Tribune has named its new board of directors, including former Fox and Discovery executive Peter Liguori, who also is expected to become chief executive officer.
Though Tribune has long emphasized its multimedia aspects, there’s a chance that those will no longer include print.
The company is expected to begin selling off its newspapers now that it has exited Chapter 11, which involved locking down a $1.1 billion term loan and a $300 million line of credit.
Tribune, which owns eight dailies including The Chicago Tribune and Los Angeles Times, will begin fielding offers as soon as this week, according to analysts.
Newspapers have not been in great demand since advertising began to sink in 2006. Nonetheless, Freedom Communications, which owns The Orange County Register, has expressed interest in buying some of the papers, and other suitors are expected to come forward, though likely with bids well below what the papers were worth a decade or even five years ago, when Zell bought the company.
Going forward Tribune is expected to focus on its 23 television stations and perhaps on acquiring more web sites. It already owns shares in more than 50.
Tags: CEO, Freedom Communications, newspapers, papers, Peter Liguori, sam zell, television, The Chicago Tribune, Though Tribune, tribune, tribune bankruptcy, tribune co., tribune newspapers, tribune sales
Where do people watch Hulu? Everywhere, turns out.
Disney slashes jobs at Maker Studios in shakeup
How Bill Paxton’s death will impact ‘Training Day’
Finally, a new broadcast show has been canceled
‘How to Get Away With Murder’ equals a season high
Satellite’s now an afterthought in the era of digital radio
NASCAR spins its wheels as season gets underway
Best of the week: Ranking black American influencers
Paper cuts: Axe swings at The Financial Times
It’s time to get over the gimcrack of Times Square
Weekend TV: It’s Oscar time in la la land
People really didn’t like media coverage of the election
Cable overnights: ‘Alaskan Bush People’ rises in finale
- ABC EVP of marketing and chief marketing officer Marla Provencio exits
- Michelle Galván becomes co-host of Univision’s ‘Primer Impacto’
- Bryan Bell joins HLN as senior director of programming
- Cress Williams joins the CW’s ‘Black Lightning’ pilot
- Nyambi Nyambi joins CBS All Access’ ‘The Good Fight’
- Gwendoline Yeo joins Amazon’s American Girl special
- Donald Trump: I’m skipping the White House Correspondents’ Association dinner
- ‘Game of Thrones’ actor Neil Fingleton dies at 36
This week’s broadcast ratings
This week’s top-rated movies, songs and books
This week’s cable ratings
This week’s daypart ratings
This month’s digital traffic data: December 2016
Opening for a media planner at a top OOH agency
Orlando agency looking for a media planner/buyer
Freelance media planner/buyer available
Junior media planner/buyer position in Minneapolis-St. Paul
Media sales coordinator opening in New York