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MUMBAI:
Close on the heels of emerging from bankruptcy, the Tribune
Company has elected former News Corp and Discovery Communications
COO Peter Liguori as Chief Executive Officer effective immediately.
The
company has also appointed Bruce Karsh as Chairman of the
board.
The
company also announced that former CEO Eddy Hartenstein will
continue to serve as publisher of the Los Angeles Times and
CEO of the Los Angeles Times Media Group, and will act as
special advisor to the office of the CEO.
"The
Board is very optimistic about Tribune's future," said
Karsh. "The company is well-positioned across its markets
and now has a strong balance sheet, significant liquidity
and low debt, so there is a lot of opportunity ahead."
Since
1995, Karsh has served as president and co-founder of Oaktree
Capital Management, formerly Oaktree Capital Management, a
Los Angeles-based investment management firm. Prior to co-founding
Oaktree, Karsh was MD of the TCW Group and the portfolio manager
of its Special Credits Funds for seven years.
"Peter
is the ideal choice to be Tribune's next CEO," said Karsh.
"He has the talent and experience to lead the company
forward, and has a track record of success. The Board has
every confidence in him."
Liguori
most recently served as COO of Discovery Communications. Before
joining Discovery in 2009, he served as Chairman of Entertainment
for the Fox Broadcasting Company. Prior to assuming that position
in 2005, Liguori was president and CEO of News Corp.'s FX
Networks since 1998.
"Tribune
is a great company with an incredible collection of media
assets, iconic brands in major markets across the country,
tremendous journalism, and very talented people," said
Liguori.
"Collectively,
the company's digital operations, broadcast outlets and newspapers
are some of the best in the country. In many ways, Tribune
is like a 165-year old start-up-there is a lot to build upon."
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