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
NBC’s ‘Sound of Music’ hits a high note
Whoa: No. 1 show in 18-34s is on cable
Twitter takes a shot at retargeting
Media scrambles to cover Mandela’s death
Rethinking media’s compensation model
Want higher ratings? Program holiday music.
‘Bonnie & Clyde,’ shoot-em-up lovers
Rachel, I try so hard. It’s never enough.
‘Modern Family’ gains in syndication
Real-time buying: Media’s next revolution
Netflix scores another awards first
Best tube bets this weekend
NBC Christmas special soars to seven-year high
- Deirdre Finnegan becomes publisher at EatingWell magazine
- Sam Rosen becomes VP of marketing at The Atlantic
- Eric Schurenberg rises to president at Inc. Magazine
- Nicoletta Santoro becomes creative director at Town&Country
- Claudia Foghini rises to SVP of production strategy at Telemundo
- Leslie Scott rises to digital program director at Entercom
- Todd Porch becomes VP and GM at Comcast Wholesale AdDelivery
- Todd Taplin becomes EVP of global sales at Celtra
- Four join branding firm The Sound Research
- Rick Allen becomes lead race announcer at NBC Sports
- 'Early Start' anchor Zoraida Sambolin exiting CNN
- Ana Jurka becomes on-air personality at Deportes Telemundo
This week’s cable ratings
This week’s broadcast ratings
This week’s daypart ratings
This month’s new media traffic data
This week’s top movies, songs and books
This week’s younger viewer ratings
Senior media planner in Midtown Manhattan
Media operations coordinator job in New York
Media planner opening in Brooklyn
Media planner/buyer in Cedar Rapids, Iowa
Media buyer position in Hartford, Conn.