4 items from 2014
This little item popped up in the Friday data dump of filings at the SEC. The Tribune CEO told Yahoo that he won’t seek re-election at the next annual meeting, when his term expires. Peter Liguori, formerly a honcho at Fox and Discovery, joined the board in 2012. Yahoo had hoped that the appointment of an independent director would help to derail a planned proxy fight by Third Point’s Daniel Loeb who said, among other things, that the company was underperforming in part because directors were too closely aligned with management. That plan didn’t work, though the company and Loeb finally made peace after it hired Marissa Mayer to be CEO. (Loeb is an investor in Variety with Deadline’s parent company, Pmc.) Last year, Liguori also left the MGM board. »
- DAVID LIEBERMAN, Financial Editor
Tribune Co. saw earnings and revenue hits last year at its broadcasting and publishing units, according to the full-year and fourth quarter financial statements released Friday.
Some of the declines were attributable to the extra week in its 2012 results for both full year and fourth quarter earnings.
But even adjusted for the quirk of the calendar, Tribune saw an earnings slump in the year that it made a bold bet on growing its broadcasting operation with the $2.7 billion acquisition of Local TV, which boosted its station holdings from 23 to 42. Tribune stations, like most other broadcast groups, inevitably faced tough year-to-year comps in 2013 because of the political advertising gusher that flowed in the 2012 election year.
Earnings and revenue were also down on the publishing side, which is preparing for a spinoff into a standalone entity housing eight major market daily newspapers including the Los Angeles Times and Chicago Tribune.
Tribune CEO »
- Cynthia Littleton
Chicago, Mar. 17, 2014—Tribune Company today announced the appointment of Keith Bowen to the newly created position of Chief Revenue Officer. Bowen will be responsible for maximizing revenue across the company’s growing broadcast and digital media portfolio, including its local television stations and Wgn America. He will lead the company’s effort to drive its revenue streams and identify new opportunities for growth. Bowen will begin his new duties on April 1, and will report to Tribune’s President and Chief Executive Officer, Peter Liguori. “Keith has a track record of success working with and developing solutions for advertisers across a broad array of media platforms,” said Liguori. “He has a terrific ability to target an advertiser’s message to the right audience at the right time using the right combination of media for maximum impact, and he always puts clients first. Keith is driven and creative and he will be »
- THE DEADLINE TEAM
Democratic California Rep. Henry Waxman has sent a second letter to Tribune Co. President and CEO Peter Liguori about its proposed spinoff of the L.A. Times and other newspapers it now owns, expressing heightened concerns about the transaction based on paperwork filed with the Securities and Exchange Commission. “It appears that you are putting onerous conditions on the Los Angeles Times and other newspapers that could jeopardize their survival as a separate entity, the Tribune Publishing Company,” Waxman wrote. “At a minimum, you appear to be putting the profits of the Tribune Company ahead of the interests of the public in. »
- L.A. Ross
4 items from 2014
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.See our NewsDesk partners