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
Sponsors gallop to the Kentucky Derby
What to watch for at the Newfronts: Day five
Digital Content Newfronts blog: Day four update
Rachel, what do you see coming in media?
Tell us, what’s the state of magazines right now?
Weekend TV: Farewell to Alicia Florrick
Cable overnights: Big numbers for sports playoffs
New from Time Inc., hypertargeting of ads
Ranking the most popular sports OTT networks
Ugh: Voluntary buyouts hit Discovery Communications
‘The Goldbergs’ surges to a six-week high
Alas, New Day won’t see another one
The ever-elusive promise of podcasting
- Four join the digital agency Digital Pulp
- Jennifer Bradley becomes media relations director at MassMedia
- Elizabeth Boykewich rises to SVP of casting at Freeform
- Calandria Meadows becomes VP of social media at Bounce TV
- Brian Madigan becomes director of video at Real Simple
- Adam Jenkins becomes executive producer at Labs
- Adam Bernstein directing Spike TV's 'The Mist'
- Ryan Murphy working on FX limited series 'Feud'
- Natalie Morales becomes co-host on 'Access Hollywood'
This week’s broadcast ratings
This week’s cable ratings
This week’s top-rated movies, songs and books
This week’s daypart ratings
This month’s new media traffic data
This week’s younger viewer ratings
Assistant media buyer job in Fort Worth
Needed in Louisville: In-house media buyer
Memphis agency seeks a media planner
Needed: Globally conscious sales/marketing rep
San Diego opening for a digital marketing account manager