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Posts Tagged ‘Peter Liguori’

Q2 Earnings: Tribune Broadcasting Revenues Up 63%

TribuneMedia_CMYK_pri_LrgTypeTribune Media reported $425.8 million in broadcasting segment revenues for the second quarter of 2014, a 63% increase compared to the year-ago quarter.

Broadcasting segment revenues in the second quarter were up 4.9% pro forma for the acquisition of Local TV, which was completed in December. On the same basis, retransmission consent revenues were up 78% and advertising revenues were down 2.2%.

“I am very pleased with our accomplishments in the second quarter,” Tribune Media president and CEO Peter Liguori said in a statement. “While the core advertising market experienced headwinds in the first half of the year, we continue to be encouraged by the strength of our new broadcast scale, as evidenced in our year-over-year retransmission fee increases, and feel positive about the opportunities presented by the political advertising landscape in the second half of 2014.”

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Tribune Gets New Name Ahead of Split

TribuneMedia_CMYK_pri_LrgTypeTribune Company begins operating under a new, but similar, name today: Tribune Media Company. The rebranding comes as the broadcasting and publishing divisions of the 167-year-old company split.

Tribune Media includes Tribune Broadcasting, WGN America, Tribune Studios, Tribune Digital Ventures, WGN Radio, and Tribune Real Estate. “In the last year, we have executed a strategy designed to embrace a rapidly changing media environment,” said Peter Liguori, President and CEO, Tribune Media Company. “We doubled the size of our broadcast group, re-launched our national cable network WGN America with high-quality original programming, and expanded our digital businesses that power some of the world’s leading media brands.” Tribune owns CW affiliates in markets including New York, Los Angeles, Chicago, and Miami/Ft. Lauderdale. Last year, the company acquired Local TV Holdings adding 19 TV stations in 16 markets.

The other entity, Tribune Publishing Company, includes 10 major daily newspapers including the Los Angeles Times, Chicago Tribune, South Florida Sun-SentinelOrlando Sentinel and Baltimore Sun. Tribune Publishing is expected to begin trading on the NYSE tomorrow. Its future as a stand-alone company is less clear.

 

Q4 Earnings: Tribune Broadcasting Revenue Drops 11%

tribune broadcastingTribune Co. reported broadcasting revenues of $267 million for the fourth quarter of 2013, an 11% drop compared to the $303 million in broadcasting revenues for the year-ago quarter.

The company attributed the decline to a $14 million drop in political advertising revenues in the off-election year and a $10 million decrease in barter revenues due to a decline in the estimated value of barter programming. The losses were partially offset by a $7 million increase in retransmission revenue, according to Tribune.

“Broadcasting revenue trends during the first three quarters were disappointing. However, in the fourth quarter, non-political core advertising revenue stabilized year over year. Our root challenges are definable and addressable and we have taken action. In the Publishing business, our operational actions have stabilized profitability and we are confident that we are building a solid foundation for this business’s future. Overall we are excited by our prospects for Q1 and full year 2014,” Tribune president and CEO Peter Liguori said in a statement.

Tribune Completes Local TV Acquisition

tribune broadcastingTribune Co. has completed its acquisition of Local TV Holdings, LLC. Tribune now owns 39 stations: 14 Fox affiliates, 14 CW affiliates, five CBS affiliates, three ABC affiliates and two NBC affiliates.

The FCC approved the $2.7 billion purchase last week, clearing the way for the official completion of the deal.

“This is a historic day for Tribune and Local TV,” Tribune president and CEO Peter Liguori said in a statement. “Combining these two great media companies will deliver tremendous  benefits for our viewers, advertisers, and most important, the communities we serve. This is a transformational acquisition for Tribune, providing us with significant scale to drive our business objectives and create substantial shareholder value.”

FCC OKs Tribune’s $2.735 Billion Buy of Local TV

tribune_304In addition to approving Gannett’s purchase of Belo, The FCC also gave the OK for Tribune Company to assume control of broadcast licenses held by subsidiaries of Local TV Holdings paving the way for Tribune to acquire 19 of Local TV’s stations in 16 markets.

“On behalf of thousands of Tribune and Local TV employees across the country, I want to thank the Commission for reaching this decision; we are extremely pleased to move forward with the transaction,” Peter Liguori, Tribune’s President and CEO said in a statement.

As part of the deal, the licenses of WNEP in Wilkes-Barre, PA, WTKR and WGNT in Norfolk, VA, will be will be transferred to Dreamcatcher Broadcasting, LLC, which is owned by Ed Wilson former president of Tribune Broadcasting.

The deal creates the largest combined independent broadcast group and content creator in the US.

Tribune included a handy map of its local TV properties on its website. You can see it after the jump. Read more

Q3 Earnings: Tribune Broadcasting Revenue Dips 6%

Tribune_buildingTribune Company reported $248 million in broadcasting revenues for the third quarter of 2013, a -6% drop compared to the year-ago quarter.

The company attributed the decline to a $9 million decrease in advertising revenue, mostly at WGN in Chicago and WPIX in New York. The declines were partially offset by higher retransmission revenues, Tribune says.

“While we are pleased with the progress we have made on key strategic initiatives in the  third quarter, our financial results in the period did not meet our expectations,” Tribune president and CEO Peter Liguori said in a statement. “We are taking targeted actions to position our broadcasting stations for profitable growth and look forward to consummating the pending acquisition of Local TV.”

‘We Are the First Responders’: Station Group Heads Discuss Health of Local TV

NATPE_ConferenceTVSpy sat in on two of the TV Summit panel discussions at the “NYC TV Week” event this afternoon.

While the panel with Peter Liguori, president and CEO of Tribune Company, was held earlier than the lunchtime discussion with Valari Staab, president of NBC owned stations and Rebecca Campbell, president of ABC owned stations, much of the discussion revolved around the health of local stations.

“I actually had someone approach me who said ‘No one watches local news,’” said Liguori. “And they actually couldn’t be more wrong. This morning in LA, KTLA drew about 150,000 viewers. CNN probably drew 10,000. We’re so accustomed and trained to look at cable news on a national basis and never on a local basis. KTLA out delivered CNN ten times this morning. That’s incredibly powerful.” Read more

Q2 Earnings: Tribune Broadcasting Revenue Falls 20%

Tribune Co. reported $260 million in broadcast revenues for the second quarter of 2013, down -20% from $327 million in the year-ago quarter. The decline includes $41 million in one-time copyright royalties paid to WGN, Tribune’s CW affiliate in Chicago, in 2012.

Advertising revenue also declined $17 million in the quarter, primarily at WGN and WPIX, the CW affiliate in New York City. Tribune says WPIX continues to be impacted by the Cablevision blackout last year and WGN’s performance has been impacted by lower sports revenue. Retransmission and carriage fees were up 15% for the quarter.

“While our second quarter financial results reflect many of the same challenges faced by the other companies in our sector, we have made substantial progress strategically repositioning Tribune for long term growth,” Tribune president and CEO Peter Liguori said in a statement.

It’s Official: Larry Wert Leaving WMAQ For Tribune

WMAQ general manager Larry Wert is leaving the NBC O&O for a top job at Tribune Co. Wert will be the president of local broadcasting,  overseeing strategy and opreations for 23 television stations and Chicago-based WGN Radio, according to the Chicago Tribune.

Wert will report to Peter Liguori, who stepped into the CEO role after the company emerged from bankruptcy last month.

“Our TV assets are an incredibly important part of the Tribune Co. We wanted to bring someone on board who had the breadth of experience, the depth of relationships and the energy to take innovations and get them across the goal line,” Ligouri said, according to the Chicago Tribune. “I just felt that we could take these local broadcast stations and really supercharge them behind Larry’s expertise and stewardship.”

Wert, a Chicago native, has been president and general manager of WMAQ since 1998. In 2008, he was named president of NBC Local Media’s central and western region, overseeing KNTV in San Francisco, KNBC in Los Angeles, KNSD in San Diego and KXAS in Dallas in addition to WMAQ. In 2011, NBC named Wert executive vice president of station initiatives for the NBC-owned stations.

“I grew up here, I spent most of my career here so I respect the great legacy of the Tribune co. I’m familiar with their great assets,” Wert told Broadcasting & Cable. “Their station footprint is significant in 36% of the country. I think there’s an opportunity right now to be part of its future in a very positive way.”

Rumors of Wert’s departure from WMAQ began last week. In his new job, he will remain based in Chicago.

>Update: NBC Owned Television Stations President Valari Staab has released a statement:

This is a rare and exciting opportunity for Larry to run a broadcast group and stay in his hometown of Chicago. I greatly appreciate his dedication and have truly enjoyed working with him over the last 18 months. I wish him the very best in his new role.

Peter Liguori Named CEO of Tribune Co.

Two weeks after emerging from bankruptcy, Tribune Co. has named Peter Liguori chief executive.

“Peter is the ideal choice to be Tribune’s next Chief Executive Officer,” Bruce Karsh, chairman of the board, said in a statement.  “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 was most recently COO of Discovery Communications. He is a former chairman of entertainment for the Fox Broadcasting Company and president and CEO of News Corp.’s FX Networks.

“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 said in a statement. “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.”

Tribune is expected to focus on building its television operations going forward. The company currently owns 23 stations.

Watch Tribune-owned WGN’s report on Liguori’s appointment after the jump. Read more