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
Readers: ABC has had the best season
A media buyer’s guide to the NewFront
Jenner interview draws 16.9 million
‘Mark & Derek’s Excellent Flip,’ not bad
Will NBC bring Brian Williams back?
For ‘Stalker,’ it’s hello and goodbye
Cablevision: We’re targeting cord cutters
Study: TV increases risk of obesity
Letterman back on top in late-night
‘Grey’s Anatomy’ grows with plot twist
Why the Empire State Building is red
Comcast confirms: TWC deal is dead
Nielsen: Cord cutting’s no big deal
- Michael Phillips becomes SVP of technology at LEVEL Studios
- Julien Tessier rises to North America CEO at Diadeis
- Alexis Madrigal rises to editor in chief at Fusion
- Aaron Mehta rises to senior staff writer at Defense News
- Ben Mims and Peter Jon Lindberg joins Saveur magazine
- Faye Brennan rises to senior editor at Women's Health
- Kristin Newman signs overall deal at ABC Studios
- Frank Langella returning for season four of FX's 'The Americans'
- Longtime Tim film critic Richard Corliss dies at age 71
This week’s younger viewer ratings
This month’s new media traffic data
This week’s broadcast ratings
This week’s cable ratings
This week’s top movies, songs and books
This week’s daypart ratings
Assistant media planner wanted in San Francisco
Media planner position open in Charlotte
Media planner and content manager opportunity
Agency sales opening in Mt. Pleasant, SC
Freelance senior media planner job in Seattle