Tribune close to exiting bankruptcy : what happens to WPIX

[aaronwaisler 0]

Hello,

 

I am new here but I have heard about Tribune Company exiting bankruptcy. But, I haven't heard anything as of late about what will happen to WPIX. Are there any speculations about who might take over the station once Tribune decides to sell it, or not?

 

Tribune Company as a whole needs new leadership! Sam Zell, the man mostly responsible for the company's bankruptcy after his hostile take-over a few years ago, needs to sell the whole company to someone who actually cares about the media business and not someone who is just focused on making money and having another asset under their belt.

 

I would love your insight.

 

Thanks!

[PIXfan 34]

Here is the latest news on the Tribune bankruptcy exit situation....

 

First, Tribune's crossownership (newspaper/television) waivers were granted by the FCC... http://www.latimes.com/business/money/la-fi-mo-tribune-fcc-waivers-20121116,0,1824756.story

 

Second, a little known ex-Fox Broadcasting Company executive named Peter Liguori is set to become its new CEO...

 

http://www.upi.com/Business_News/2012/11/17/Report-Tribune-names-Peter-Liguori-CEO/UPI-16351353174956/#axzz2DI0O3vGi

 

http://www.menafn.com/menafn/061fab99-a4b2-4cad-af52-400884a00573/Sources-New-owners-plan-Peter-Liguori-as-Tribune-Co-CEO?src=main

[CircleSeven 1945]

After over four years, the Trib will FINALLY emerge from Bankruptcy on Monday.

 

TheWrap says their first order of business, what they going to do with the papers. It would be sad if they sell the Chicago Tribune. They can dump the rest. Hell I'll be fine if the company was just this: (Chicago Tribune, AM 720, WGN-Channel 9, WGN America, CLTV, WPIX-Channel 11, KTLA 5, And maybe The LA Times & WPHL 17). Sell Everything Else. Hubbard was interested in some stations, since they bought some of the Bonneville (KSL) radio stations a couple of years back. Give the rest to them.

[bhratbrat 423]

I don't think you will immediately see anything yet with the papers and the reason is that newspapers are more of a dying business than everything else. Even though the Chicago Tribune, the paper in LA and some of the other properties that Tribune owns in relation with the newspapers, that whole division is currently only worth a fraction of what it once was and probably what Tribune invested in them.

[A3N 996]

Well immediately nothing is going to happen because prospective buyers are just beginning the process of looking at what Tribune properties best fit their needs/portfolios. Not to mention, that there has been no indication (aside from rumors of course) of what the new owners (the banks) plan to sell. We can all assume that Tribune will shed itself of their newspapers, but which ones and for how much is unknown. Also, nobody really knows if they want to sell them individually or as a group. Add to that the lingering question of the television stations and their future under Tribune, and it all is in limbo. Whether the newspapers are worth less than they were a few years ago is irrelevant because clearly there is a market of buyers waiting for Tribune to make their moves (so getting rid of them, will be no problem). Everything will come more in focus as the months go by, it very well may be that Tribune decides to focus on the tv side of their business, and prop that up in hopes of eventually selling that down the road-at this point, only the higher ups know.

[tvknowledge 5]

The same talk and possibilities being discusses at WPIX. People are actually quite happy to see someone like Liguori, with tv and production experience taking over the Tribune tv group. So far, apparently, most management jobs at WPIX appear to be safe. They will be used to build the product which has improved in content and hirees since the departure of the previous news director. The acting news director is running a tight, newsworthy ship, evidenced by their work with the tragedies of Sandy then Newtown and is also well liked.

http://www.nypost.com/p/news/business/facelift_for_wgn_gepeEgwclfM0KJi85m1umL

[NYNews 54]

The acting news director is running a tight, newsworthy ship, evidenced by their work with the tragedies of Sandy then Newtown and is also well liked.

I think it should be expected. John Houseman worked under Karen Scott before Bill Carey came in. We all knew WPIX was a respectable news organization during the pre-Carey era.