CHICAGO,
Jan. 25, 2017 /
PRNewswire/
-- Tribune Media Company (NYSE: TRCO) today announced that
Peter Liguori, the company's president and chief executive officer since
January 2013, has decided to step down following the company's 2016 fourth quarter and full-year earnings release, expected to occur during the first week of March. Mr. Liguori will also resign from the company's board of directors at that time. Tribune Media's board of directors will conduct a search working with
Korn Ferry to identify a new CEO.
"Following the successful completion of several financial, strategic and creative initiatives, culminating in the pending sale of Gracenote, Tribune Media is well advanced in its transformation to a more focused broadcast and cable networks company," said Liguori. "I believe that now is the ideal time for a new leader to steer today's Tribune. As curious and excited as I am about pursuing new opportunities, I am equally grateful for the achievements, commitment and integrity of this company's management team and its dedicated employees."
Bruce Karsh, chairman of Tribune Media's board of directors added, "We greatly appreciate Peter's leadership in the transformation of Tribune Media over the last four years, including the efforts to monetize non-core assets and simplify the company. It became clear to Peter and the board that in this last year of his contract it was time to find a new CEO to run the more broadcast-centric company."
During the last four years, Liguori led the restructuring and transformation of Tribune Media. In 2013, the company acquired Local TV for $2.7 billion, which added 19 local television stations, bringing the total Tribune Media local television station portfolio to 42. In 2014, the company spun off its newspaper publishing division to its shareholders. During this period, Liguori led the company's strategic investments in WGN America and grew its brand and distribution to nearly 80 million households.
In February 2016, Tribune Media announced a process to review its strategic and financial alternatives, resulting in the sale of certain real estate assets for more than $500 million and the pending sale of the company's Gracenote metadata business to Nielsen for approximately $560 million.
The board of directors has chosen one of the company's current directors, Peter M. Kern, to serve as the interim chief executive officer during the search process. Mr. Kern has more than 25 years of experience as an executive, investor and M&A advisor in the media industry.
Tribune Media Company (NYSE: TRCO) is home to a diverse portfolio of television and digital properties driven by quality news, entertainment and sports programming. Tribune Media is comprised of Tribune Broadcasting's 42 owned or operated local television stations reaching more than 50 million households, national entertainment network WGN America, whose reach is approaching 80 million households, Tribune Studios, and a variety of digital applications and websites commanding 60 million monthly unique visitors online, including ScreenerTV.com and Covers.com. Tribune Media also includes
Chicago's WGN-AM and the national multicast networks Antenna TV and THIS TV. Additionally, the Company owns and manages a significant number of real estate properties across the U.S. and holds other strategic investments in media. For more information please visit
www.tribunemedia.com.
SOURCE Tribune Media
January 30 - Union Communications Services, Inc.
Samuel Gompers, first AFL president, born in London, England. He emigrated to the U.S. as a youth - 1850
January 25
1900s, as Italian immigrant Antonio Vacca and his sons encounter cave-ins and fires deep below the earth’s surface. Above ground, miners battle gun thugs and corrupt sheriffs at Virden, Matewan and Ludlow in an epic struggle to form a union and make the mines a safer place to work. Historian Kevin Corley’s depiction of miners’ lives is based on his own interviews with mining families.)
January 24 -- Union Communications Services, Inc.
Some 10,000 clothing workers strike in Rochester, N.Y., for the 8-hour day, a 10-percent wage increase, union recognition, and extra pay for overtime and holidays. Daily parades were held throughout the clothing district and there was at least one instance of mounted police charging the crowd of strikers and arresting 25 picketers. Six people were wounded over the course of the strike and one worker, 18-year-old Ida Breiman, was shot to death by a sweatshop contractor. The strike was called off in April after manufacturers agreed not to discriminate against workers for joining a union – 1913
"Take This Job and Shove It," by Johnny Paycheck, is listed by Billboard magazine as the most popular song in the U.S. - 1978
deportation hearings. "Palmer" was Alexander Mitchell Palmer, U.S. attorney general under Woodrow Wilson. Palmer believed Communism was "eating its way into the homes of the American workman," and Socialists were causing most of the country's social problems - 1920
January 11
police when they try to prevent the strikers from receiving food deliveries from thousands of supporters on the outside. Sixteen strikers and spectators and 11 police were injured. Most of the strikers were hit by buckshot fired by police riot guns; the police were injured principally by thrown nuts, bolts, door hinges and other auto parts. The incident became known as the “Battle of the Running Bulls” - 1936
He ultimately is executed by firing squad (His last word was “Fire!”) for the crime despite much speculation that he was framed - 1914
Southern Tenant Farmers’ Union leads Missouri Highway sit-down of 1,700 families. They had been evicted from their homes so landowners wouldn't have to share government crop subsidy payments with them - 1939
