Tribune Media CEO’s $8.8 million payday

posted on at by
Peter Liguori

Peter Liguori

The top man in Tribune Tower made nearly $8.8 million last year, according to a filing posted Monday on the Securities and Exchange Commission website.

Peter Liguori, who led the historic transformation of Tribune Co. and emerged as chief executive officer of the newly named Tribune Media, made close to $1.5 million in salary and close to $7.3 million in bonuses and other compensation for a total of $8,757,914.

The SEC filing, first reported by Chicago Tribune reporter Robert Channick, included financial statements, ownership information and strategic plans as Tribune Media prepares to become a fully publicly-traded company.

Liguori, 54, who was named president and CEO of Tribune Co. in January 2013, devised the plan to shed the company’s newspaper properties (which spun off to Tribune Publishing) and focus on the more profitable broadcasting business.

“Through Mr. Liguori’s stewardship, we have achieved strong performance results, even while navigating the aftermath of bankruptcy emergence,” the filing stated. “Mr. Liguori’s contributions in 2013 included strategic input and oversight of all activities associated with: consummation of the acquisition of Local TV; the startup of Tribune Studios, Tribune Digital Ventures and Tribune Real Estate Holdings; preparation for the acquisition of Gracenote; and preparation for the Publishing spinoff.”

In addition to Liguori’s pay package, the filing also listed 2013 compensation for the following Tribune Media executives:

  • Eddy W. Hartenstein, publisher and chief executive officer, Los Angeles Times: $2,603,792
  • Chandler Bigelow, executive vice president, chief business strategies and operations officer: $2,041,453
  • Steven Berns, executive vice president and chief financial officer: $1,462,288
  • Lawrence Wert, president, broadcast media: $2,314,889
  • Edward P. Lazarus, executive vice president, general counsel and corporate secretary: $1,694,899
  • Melanie Hughes, executive vice president, human resources: $851,554

According to the filing, members of the company’s board of directors earned the following in fees and stock awards:

  • Craig A. Jacobson: $473,056
  • Kenneth Liang: $468,056
  • Bruce A. Karsh: $478,056
  • Peter E. Murphy: $454,000
  • Ross Levinsohn: $463,056