Tribune Emerges From Bankruptcy
Liguori expected to be named CEO
By Mike Farrell, Multichannel News -- Broadcasting & Cable, 12/31/2012 12:24:51 PM
Tribune is parent to eight daily newspapers across the country including the Los Angeles Times and Chicago Tribune, 23 television stations, the WGN America cable channel and has a one-third interest in The Food Network.
The company filed for Chapter 11 bankruptcy protection in 2008 after a buyout from real estate magnate Sam Zell burdened it with nearly $13 billion in debt just as the print advertising business fell into decline. Earlier this year a group of creditors headed by private equity fund Oaktree Capital Management gained control of the company in a deal which valued Tribune at about $4.5 billion.
Click here to read the full story at Multichannel.com.
I could picture...
- Gannett acquiring WDCW D.C.
- Belo acquiring KIAH Houston and KRCW Portland
- Sinclair acquiring KPLR St. Louis
- FOX acquiring KCPQ/KZJO Seattle and KSWB San Diego
- Meredith acquiring KTXL Sacramento (and maybe WXMI Grand Rapids)
- Scripps acquiring WGNO New Orleans
- Hearst possibly acquiring WNOL New Orleans
Not sure about WXIN/WTTV Indianapolis and KWGN Denver
I could picture Tribune keeping ownership of WPIX New York, KTLA L.A., WGN Chicago, WPHL Philly, and KDAF DFW... until further notice. Tribune selling most/all of its newspaper properties.
Eric - 1/1/2013 6:45:00 PM EST
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