Peter Liguori, a former top executive at News Corp.'s Fox and Discovery Communications Inc., has emerged as the leading candidate for Chief Executive at Tribune Co once it emerges from bankruptcy, Reuters reported on Friday. A few things have to happen before Liguori gets the nod, however. To begin with, Tribune has to receive FCC approval before it can emerge from bankruptcy. Then the company needs to nominate and approve a board of directors. Further, the new CEO needs the approval of Tribune's three largest creditors - Oaktree Capital Management, JPMorgan Chase & Co and Angelo, Gordon & Co.
