Peter Liguori Lined Up To Run Tribune: WSJ

Former News Corp and Discovery Communications executive Peter Liguori is expected to be appointed CEO of Tribune now that the FCC approved the transfer of TV and radio licenses to the company’s new owners. The 24 licenses were the last hurdle for Tribune in emerging from bankruptcy. Liguori was selected by Tribune’s new owners, a creditors group led by Oaktree Capital, Gordon & Company and J.P. Morgan Chase, according to a report in the Wall Street Journal. Formal appointment of Liguori, currently an advisor to Carlyle Group, is expected to take place once Chicago-based Tribune emerges from bankruptcy and a new board is in place. Current Tribune CEO Eddy Hartenstein said the company expects to emerge from Chapter 11 “over the next several weeks”. Liguori’s experience at Fox’s FX Network, Fox Broadcasting and Discovery signals TV’s significance for Tribune’s future. Tribune’s 10 newspapers include the Los Angeles Times and Chicago Tribune, and the company could decide to sell assets to stabilize finances. News Corp Chairman Rupert Murdoch is interested in the Times and Tribune and could make a move once News Corp splits newspapers away from its  other media properties.

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