Tribune Media will pay bonuses to executives who worked for more than 15 months on its failed merger with Sinclair Broadcast Group. The bonuses, which were disclosed in a filing on Tuesday, are for the company’s chief financial officer, Chandler Bigelow, as well as its president of broadcast media, Larry Wert, and its general counsel and chief strategy officer, Edward Lazarus.
The trend of station groups creating and syndicating their own shows has proven itself as a worthy way to create cost-effective programming that speaks to local and regional audiences, according to a panel of executives who spoke Wednesday at NATPE.
Tribune Broadcasting president Larry Wert began his appearance on a panel at NATPE’s Station Summit by joking that this would likely be his last time ever at the conference. Technically that could be true — Sinclair Broadcast Group is weeks or even days away from final regulatory approval of its long-anticipated takeover of Tribune. But Wert ended the session on a more serious note, warning of the significant risk that comes with the consolidation wave swallowing up his company.
Top executives at Tribune Media will take down millions in severance pay when its $3.9 billion merger with Sinclair closes, according to an SEC filing. Chief beneficiaries: General Counsel Edward Lazarus ($9.7 million), CFO Chandler Bigelow ($9.2 million) and broadcast chief Larry Wert ($7.8 million).
Tribune Broadcasting President Larry Wert has been named “Broadcaster of the Year” by the Illinois Broadcasters Association. Additionally, Tribune’s WGN-AM was named Chicago Market Station of the Year, the station’s tenth consecutive year of honor by the IBA. Wert became the Illinois Broadcasters Association’s 32nd Vincent T. Wasilewski “Broadcaster of the Year” as part of […]
Tim Allen visited Chicago last Thursday to promote the off-network syndication launch of his sitcom, Last Man Standing. The comedy holds the No. 1 slot among all the new first-run and off-network syndicated programming and is already ranked No. 6 among all 19 syndicated comedies. Last Man Standing airs on many Tribune stations, including WPIX New York, KTLA Los Angeles, WGN Chicago, WPHL Philadelphia and KDAF Dallas. On hand were (l-r): Ken Lawson, 20th Television, Sean Compton, Tribune, Allen and Larry Wert, Tribune.
NATPE’s only broadcast TV panel featured (l-r after moderator Paige Albiniak of B&C): Jack Abernethy of Fox Television Stations on the state of network-affiliate relations, Nexstar’s Perry Sook on why station groups shouldn’t be in national syndication; and Tribune’s Larry Wert on the on-going feud between CW and Tribune in which the network is demanding higher reverse comp fees from Tribune.
The Tribune broadcast president succeeds Brian Brady in the Fox Affiliate Board seat.
The former CNN news executive succeeds Katherine Green. As SVP of news, he wil be responsible for overseeing all news operations and production at the group’s 42 stations. He starts March 2.
After 30 years in broadcasting, Larry Wert has just been assigned his toughest task yet: squeezing more profit out of Tribune Co.’s vastly expanded galaxy of local TV stations.
Larry Wert has a big challenge — and bigger opportunities — as head of Tribune’s soon-to-be independent broadcasting operations. A major player with its recent purchase of Local TV LLC, his new portfolio of 42 stations means he can take advantage of improved economies of scale. He also promises more news from the stations, says he’s losing interest in overexposed off-net sitcoms and explains that the newly established Tribune Studios will not be his stations’ only source of first-run programming.
NBC Broadcasting Chairman Ted Harbert says his company’s push to develop TVE is “an incredibly complex and expensive operation,” but when it’s in place “it will be a terrific experience for consumers.”
Fifteen years ago this week, Larry Wert accepted the biggest challenge of his career, becoming president-GM manager of NBC O&O WMAQ at a low point in its history. Today, he did it again: This time, Wert, 56, was named president of local broadcasting for Tribune Co. His widely rumored appointment comes weeks after Tribune Co. emerged badly battered from a four-year bankruptcy ordeal. Under new CEO Peter Liguori, the reorganized company is expected to increase its focus on broadcasting and shed other assets.
Sources say Wert, president and general manager of NBC-owned WMAQ Chicago, could be on the verge of taking a top-level broadcasting job with Chicago-based Tribune Co., which late last year emerged from a lengthy bankruptcy.
After 13 years at the top of Chicago’s NBC-owned station, is veteran broadcasting executive Larry Wert moving up or out? As ratings and revenues decline at WMAQ 5 and new owner Comcast Corp. takes a hard look at all of its operations, talk of a management shakeup has moved beyond industry gossip.