Liguori set to leave Tribune

Peter Liguori is leaving US station group Tribune after four years as president and CEO, with reports linking him to the top job at Sony Pictures.

Peter Liguori

Liguori will step down from his role – as well as the Tribune board – after the firm releases its fourth-quarter earnings in the first week of March. The board has hired search firm Korn Gerry to find his replacement.

Peter Kern, one of Tribune’s directors, has been named interim CEO.

Rumours are now circulating in the US that Liguori could succeed Michael Lynton and take charge of Sony Pictures. Ligouri is currently an advisor to the Sony Corp board.

However, a Tribune spokesman has said that the move is “totally separate and independent,” adding: “Nothing in today’s announcement is relevant to Sony’s recent announcement for Michael Lynton.”

Liguori has led the restructuring of Tribune Media over the last four years, including the company’s 2013 acquisition of Local TV for US$2.7bn. The deal added 19 local television stations to Tribune Media’s local stations portfolio, which now totals 42.

Last February, Tribune Media announced a process to review its strategic and financial alternatives, resulting in the sale of certain real estate assets for more than US$500m and the pending sale of the company’s Gracenote metadata business to Nielsen for about US$560m.

“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 in a statement.

“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.”

The exec previously held senior roles at Fox and Discovery Communications.