Peter Liguori, a former top executive at News Corp. and Discovery Communications, is expected to be named as the new chief executive of Tribune Co., parent of the Los Angeles Times and KTLA-TV Los Angeles, after the company emerges from bankruptcy, a person familiar with the matter said.
An official announcement of Liguori’s hiring is not expected until after Tribune emerges from bankruptcy and formally names a new board of directors. A big step in that direction occurred Friday when the Federal Communications Commission approved a transfer of the Tribune broadcast licenses to Oaktree Capital Management; Angelo, Gordon & Co.; and JPMorgan Chase & Co., the soon-to-be owners of the media conglomerate.
Liguori would succeed Eddy Hartenstein as chief executive. A spokesman for Tribune Co. declined to comment.
Besides the Los Angeles Times and KTLA, Tribune owns 22 other television stations, including valuable outlets in New York, Philadelphia and Washington, D.C.; other newspapers in the Tribune portfolio include the Chicago Tribune, Baltimore Sun and Orlando Sentinel. The TV stations are considered the most valuable part of the company. The company has been in bankruptcy for almost four years.
Liguori, 52, is currently an advisor to the private equity firm Carlyle Group. Before that, he spent much of his career in television programming and marketing – including serving as chief operating officer of the cable programming giant Discovery Communications. He has also held senior programming positions at News Corp.’s Fox Broadcasting and FX networks. Liguori, who got his start in advertising, is also on the board of Yahoo.