Tribune Co. plans to name television executive Peter Liguori as its chief executive officer when the company emerges from bankruptcy, according to media reports over the weekend.
Liguori is a former TV-programming executive at News Corp. (NWS, NWSA) and Discovery Communications Inc., (DISCA, DISCB). He has reportedly been chosen by Tribune's new owners, comprising a group of creditors led by Oaktree Capital Management LP, Angelo, Gordon & Co., and JPMorgan Chase & Co. (JPM).
On Friday, the Federal Communications Commission approved Tribune's requests for the transfer of broadcast licenses and cross-ownership waivers to the new owners of the company. The approval enables the Chicago-based media company to clear the final hurdle for its long-awaited exit from bankruptcy.
Tribune owns 10 newspapers, including the Chicago Tribune and Los Angeles Times, and 23 television stations.
Liguori joined private equity firm Carlyle Group in late July this year, in a consulting role overseeing the company's telecommunications and media team.
From May 2009 to December 2011, he served as chief operating officer at Discovery Communications. In that role, Liguori oversaw the launches of Discovery's three joint ventures - The Hub, OWN and 3net.
Prior to joining Discovery in 2009, Liguori served as president of entertainment for Fox Broadcasting Co., where he was responsible for all Fox program development and marketing. Prior to assuming that position in 2005, Liguori was president and CEO of News Corp.'s FX Networks since 1998, overseeing business and programming operations for FX and Fox Movie Channel.
He has also served as senior vice president, marketing for a joint venture at Fox, and as senior vice president of marketing at HBO.
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