Jerry Kersting Named President of Tribune Broadcasting
Examiner appointed to investigate bankruptcy of parent
company... CHICAGO: Tribune Co. announced today that Jerry
Kersting has been named president of its broadcasting division. Effective
immediately, Kersting assumes responsibility for the strategic vision and day-to-day
operations of the company’s 23 television stations, its national cable channel,
WGN America, and WGN Radio. Kersting has served as Tribune Broadcasting’s chief
operating officer since December 2009.
Ed Wilson, who was head of the broadcasting division since 2008, stepped down
last week. Tribune said he would be retained as a “consultant.”
Prior to being named COO of Tribune Broadcasting, Kersting was executive vice president
for Tribune, joining the company in 2008. Before joining Tribune, Kersting was
executive vice president and chief financial officer of Clear Channel Radio
from 1999 to 2008. Kersting had 34 years of service with Clear Channel.
At Tribune’s flagship TV station, WGN-TV in Chicago, General Manager Marty
Wilke was also given oversight of CLTV, the company’s cable news franchise in
the same city. Steve Farber, general manager of CLTV since 2006, has been named
vice president of operations for both entities.
Tribune’s bankruptcy continues to drag on. The trustee in the case, filed in
the U.S. Bankruptcy Court for the District of Delaware, has appointed an
examiner to investigate the 2007 $8.2 billion leveraged employee buy-out of the
company. Junior creditors holding about $1.2 billion of Tribune’s debt pushed
for the investigation.
Tribune’s boilerplate meanwhile states the following: “Tribune is one of the
country’s leading multimedia companies, operating businesses in publishing,
interactive and broadcasting. In publishing, Tribune’s leading daily newspapers
Los Angeles Times, Chicago Tribune, The Baltimore Sun, Sun
Sentinel , Orlando Sentinel, Hartford Courant, The Morning Call and Daily
Press. The company’s broadcasting group operates 23 television stations,
WGN America on national cable and Chicago’s WGN-AM... At Tribune we take what
we do seriously and with a great deal of pride. We also value the creative
spirit and nurture a corporate culture that doesn't take itself too seriously.”
-- Deborah D. McAdams