USC's dreadful performance is perfect way to conclude imperfect season








EL PASO — A football season that once swaggered through the warmth of a No. 1 ranking has curled up and expired in a cold, remote desert, buffeted by a chilled and foreboding wind.


The kid coach is bundled in a black hoodie and wearing sunglasses. He is standing 10 yards from most of his team. He is hunched over a play card, huddled into himself, alone.


The kid quarterback is battered by the wind, perplexed by the defense and wandering the sidelines looking for comfort or instruction. He receives neither and wanders alone.






The athletic director who has said he is "150%" behind this mess is on speed dial, but he cannot be reached for comment, which could mean nothing or everything. In offering his unwavering and unconditional support of the most underachieving team in college football history, he, too, could be alone.


Happy New Year's Eve, USC football fans. Are you ready for the mother of all hangovers?


Playing a losing team from a weakened conference in a secondary bowl game Monday, the Trojans did worse than simply lose. They didn't even show up.


In a 21-7 loss to Georgia Tech, Coach Lane Kiffin was distant, quarterback Max Wittek was despairing, the defense was battered for nearly 300 rushing yards, and even their scarf-swaddled fans finally had enough. In the final minutes of the game, Trojans fans rained boos down upon Georgia Tech for having the nerve to call timeout and extend their agony.


This wasn't just one bad game; this was the end of a season filled with bad games, the last milepost in arguably the most unsightly journey ever taken by a football team in NCAA history.


The Trojans went from No. 1 in the country to out of the rankings entirely, the first time this has happened in 48 years. The Trojans went from talk of an undefeated season to six losses, including five in the last six games. The Trojans went from Hollywood to El Paso to a tiny Sun Bowl conference room in which Kiffin tried to explain it all.


"A very surprising day," he said. "Obviously, it starts with the head coach."


Many believe this should be the end of the head coach. Even though Athletic Director Pat Haden assured me on Nov. 17 that Kiffin was returning next season and that he was "150%" behind the coach, many think he could and should change his mind.


Since that statement — oddly coming on the day of the loss to UCLA — the Trojans suffered through questionable play-calling in a loss to Notre Dame and then experienced an awful week here. Georgia Tech walked out of a Sun Bowl banquet because the Trojans showed up late, two Trojans tweeted nasty things about the city of El Paso, and even a giant Trojans thank-you ad purchased for the back page of the sports section of the El Paso Times couldn't fully make amends.


Although USC claimed bowl officials knew about its late banquet arrival, and although USC players aren't the first kids to tweet dumb things, there are no easy explanations about what happened in the week's culminating event. How on earth does a Trojans team supposedly loaded with NFL prospects gain only 205 total yards against a Georgia Tech team that gave up 510 yards to Middle Tennessee State? Or have only two more first downs than punts? Or commit three turnovers, giving them 34 for the season, the most ever for a team with a winning record?


"We had two great weeks of practice. ... I thought our guys were really into it," said Kiffin, shaking his head, showing again the apparent fraying in his connection with his team.


Kiffin later said he was huddled under the hoodie because he didn't want to wear a ski cap. He also said he was wearing sunglasses to hide a tiny bandage, which he said was covering a scrape caused by some horsing around with linebacker Hayes Pullard.


"C'mon, you know that how I looked is not the reason we lost this game," he said.


But all of it contributed to the perception of a coach who is not a strong leader, which is another reason Haden could ultimately change his mind and make a change. This lack of leadership spread to his players, even quarterback Matt Barkley, who began the season as a Heisman Trophy favorite and ended it as a no-show.


Yes, Barkley's season ended when he suffered a sprained shoulder against UCLA. But where was the quarterback on the sidelines Monday when Wittek could have used his counsel? Where was any veteran to support the redshirt freshman when he was clearly lost while completing 14 of 37 passes for 107 yards with one touchdown and three interceptions? And where were the veterans at the start of the fourth quarter, with the Trojans still trailing by only a touchdown, when USC trudged down the field while the Yellow Jackets bounced and danced in unified excitement?


"I never saw this coming," said senior defensive end Wes Horton. "With the talent and coaches we had, I thought we'd have a much better record."


Statements like that, and games like this, are all damning to Kiffin's cause. But remember, the two things that Haden said he liked about Kiffin are still true. Haden said he loves Kiffin's commitment to academics, and two Trojans were sent home from El Paso for academic reasons. Haden also said he loves Kiffin's recruiting, and the Trojans are still scheduled to have one of the nation's top hauls.


"We'll sign the No. 1 class in the country and go back to work," Kiffin said.


For now, that is true, and I wouldn't be surprised if it remained true. But I also wouldn't be surprised if Haden suddenly changes his mind and changes everything. By now, all shock has been drained from college football's most stunning team, its season ending Monday in the chilliest and most desperate of climes, with an embarrassing loss that was no surprise to anybody.


bill.plaschke@latimes.com


twitter.com/billplaschke






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Movers roundup: Facebook, Best Buy






Among the stock activity stories for Monday, Dec. 31, from AP Business News:


— Shares of Facebook Inc. rose after an analyst said advertising spending was picking up on the Internet social network and raised his rating on its stock.






— Shares of Best Buy Co. rose on light volume as the struggling electronics retailer closed out a rocky year.


— Shares of Duff & Phelps Corp. rose on news that the company had agreed to be acquired.


Social Media News Headlines – Yahoo! News





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Armstrong better, Green Day to resume tour in 2013


LOS ANGELES (AP) — Green Day is going back on the road.


The Grammy-winning punk band announced new tour dates Monday.


The band canceled the rest of its 2012 club schedule and postponed the start of a 2013 arena tour after singer-guitarist Billie Joe Armstrong's substance abuse problems emerged publicly in September when he had a profane meltdown on the stage of the iHeartRadio Music Festival in Las Vegas. The band's rep announced later that Armstrong was headed to treatment for substance abuse.


"I just want to thank you all for the love and support you've shown for the past few months," Armstrong told fans in a statement Monday. "Believe me, it hasn't gone unnoticed and I'm eternally grateful to have such an amazing set of friends and family. I'm getting better every day. So now, without further ado, the show must go on."


The tour is scheduled to begin March 28 at the Allstate Arena in the Chicago area. Tickets for postponed shows will be honored on the new dates, and refunds will be available for canceled shows.


"We want to thank everyone for hanging in with us for the last few months," the band said. "We are very excited to hit the road and see all of you again, though we regret having to cancel more shows."


The band released their most recent album, "Tre," on Dec. 11, more than a month ahead of schedule.


___


Online:


http://www.greenday.com/


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Letters: Recovery After Trauma



To the Editor:


Re “A New Focus on the ‘Post’ in Post-Traumatic Stress” (Mind, Dec. 25): Social contexts are well-established predictors of adjustment following trauma. Sexual abuse survivors who are believed and supported following an abuse disclosure fare better than those who are not, and returning veterans’ social support predicts P.T.S.D. over and above the extent of military trauma exposure. Interpersonal traumas cause greater psychological scars than do noninterpersonal traumas like accidents or disasters, with the worst outcomes linked to trauma perpetrated by someone to whom the victim was close.


Rachel Goldsmith


New York


The writer is a clinical psychologist.


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Here's to some wishful consumer-friendly resolutions








It's a time for new beginnings. So here are some resolutions I'd like to offer on behalf of some of our friends in the business world.


Cable and satellite companies should resolve to throw their lobbying clout behind urging lawmakers to forbid the bundling of channels by broadcasters.


As it stands, companies like Disney and Fox can insist that a Time Warner Cable or a DirecTV satellite take most or all of their channels as part of any programming deal, regardless of whether subscribers want them. Non-sports fans thus end up paying extra for ESPN and non-Spanish speakers have to pay for MundoFox.






Broadcasters argue that such packages create more programming diversity and allow niche channels an opportunity to find an audience. That may be true.


But it's not how a free market is supposed to operate and it basically means that a manufacturer (in this case, of TV content) is forcing unwanted products down consumers' throats.


Would lawmakers stand for it if Hearst Corp., say, required that you subscribe to House Beautiful and Redbook if all you wanted was Car and Driver? Would they look the other way if Random House demanded that you purchase "Crafting With Cat Hair" (yes, that's a real book) along with "Fifty Shades of Grey"?


Only TV broadcasters get away with such blatantly uncompetitive and anti-consumer behavior, and we pay dearly for their market power and greed.


NPD Group, a market researcher, estimates that the average cable bill will reach $123 a month by 2015 and $200 by 2020. Meanwhile, ratings company Nielsen says the typical viewer watches only about 17 channels on a regular basis.


This is nuts. The solution, clearly, is to allow people to subscribe only to the channels they want. Cable and satellite companies have indicated that they'd be open to so-called a la carte programming. The problem, they say, is that broadcasters refuse to back the idea.


So do something about it. Time Warner Cable spent $5.6 million on lobbying activities last year, according to the Center for Responsive Politics. How about devoting some of that money to persuading lawmakers to crack down on broadcasters' monopolistic behavior?


Broadcasters obviously have no incentive to budge. They make too much money under the current system. It's time for a legislative fix, and cable and satellite companies should be at the forefront of that effort.


Speaking of pricing, it's time for the telecom, banking and airline industries to end their practice of nickel-and-diming customers. Hidden or barely advertised fees have gotten way out of hand and have made it increasingly difficult to shop for the best deal.


Want to fly? Brace yourself for extra fees for baggage, seat assignment, reservation changes, snacks, drinks, even blankets. Airlines pocketed more than $36 billion in revenue from fees last year, according to the Amadeus Worldwide Estimate of Ancillary Revenue, an annual industry report.


Banks will hit you with fees for having a checking account, wanting paper statements, making too many withdrawals, even closing your account once you get fed up with the miserly treatment. Overdraft fees alone bring in about $30 billion a year, according to the Pew Charitable Trusts.


As for wireless companies, the consulting firm KSE Partners crunched the numbers and found that taxes and fees now account for 17.2% of the average monthly bill, up 5.5% over the last two years. Nearly half of Americans with mobile phones pay $100 or more a month, and more than 1 in 10 spend at least $200 a month, according to a recent survey by Harris Interactive.


All these industries use roughly the same business model: Advertise dirt-cheap prices for basic services and then smack you upside the head with add-on fees. I suggest things be turned around.


List prices should include all routine taxes, fees and services, and then discounts could be applied as customer incentives. Not only would this make comparison shopping easier, but it also would place pressure on companies to lower prices, rather than raise fees.


The problem is one of transparency. No one begrudges a business earning a reasonable profit. The trick is trying to figure out how much profit they're pulling down amid a blizzard of jargon and fine print.


Last but not least, a resolution for all companies about customer service: Take it seriously.


Businesses seem to believe there's no downside to cutting employees and outsourcing customer support. Shareholders see more profit, managers see more bonuses and customers, well, they just suck it up.


Wrong.


The Internet takes customer loyalty and throws it out the window. We can take our business almost anywhere. Moreover, thanks to Yelp and other review sites, a single bad experience can be amplified into a full-on cri de coeur.


Only the most shortsighted company will ignore customer sentiment amid such variables. Yet all too often, businesses subject customers to uninformed salespeople, long waits at the cash register and the kind of support that seems designed solely to anger and frustrate.


The customer is always right — that's what they used to say. I wish it was still the case.


Heck, I'd be satisfied to be given the benefit of the doubt just a small fraction of the time.


David Lazarus' column runs Tuesdays and Fridays. He also can be seen daily on KTLA-TV Channel 5 and followed on Twitter @Davidlaz. Send tips or feedback to david.lazarus@latimes.com.






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Venezuela's Hugo Chavez said to suffer 'complications'









CARACAS, Venezuela — Hugo Chavez has suffered "new complications" after his cancer surgery in Cuba, his vice president said Sunday, describing the Venezuelan leader's condition as delicate.


Vice President Nicolas Maduro did not give details about the complications, which he said came amid a respiratory infection. Maduro spoke in a televised address from Cuba.


Maduro arrived Saturday in Havana on a sudden trip to visit Chavez. He said Sunday that he had met with Chavez and he "referred to these complications."





"Thanks to his physical and spiritual strength, Comandante Chavez is facing this difficult situation," Maduro said, reading from a prepared statement.


"The president gave us precise instructions so that, after finishing the visit, we would tell the [Venezuelan] people about his current health condition," Maduro said. "President Chavez's state of health continues to be delicate, with complications that are being attended to, in a process not without risks."


The vice president spoke with a solemn expression alongside Chavez's eldest daughter, Rosa, and son-in-law, Jorge Arreaza, as well as Atty. Gen. Cilia Flores.


Maduro said he had met several times with Chavez's medical team and relatives. He said he would remain in Havana "for the coming hours" but didn't specify how long.


The Venezuelan leader has not been seen or heard from since undergoing his fourth cancer-related surgery Dec. 11, and government officials have said he might not return in time for his scheduled Jan. 10 inauguration for a new six-year term. If he were to die before being sworn in, a special election would be held to replace him.





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Kobe Bryant Finally Joins Twitter — Kind Of






Long among the sports world’s biggest Twitter holdouts, Kobe Bryant has finally joined the social network. But he hasn’t opened an account, and won’t be around for long.


Social savvy fans are being blessed with his presence thanks to Nike Basketball, which has turned over its account to Bryant since Tuesday.






[More from Mashable: Avery Johnson’s Teenage Son Unloads on Twitter After NBA Firing]


Nike Basketball, which sponsors Bryant and produces his official sneaker, announced the Kobe takeover in a Christmas Day tweet. The account’s name is now “Kobe Bryant” although its handle remains @nikebasketball. Kobe has spent the past few days tweeting about a variety of subjects using a series of hashtags that play off the theme #counton-fill-in-the-blank.


He’s tweeted about the Lakers progress as a team:


[More from Mashable: FanDuel Is Fantasy Sports With a Twist]


He’s tweeted behind-the-scenes snippets of training and treatment:


And he’s tweeted a totally normal, typical, everyday holiday family portrait:


Bryant actually joined Twitter for realsies back in 2011, but then deleted the account after racking up more than 35,000 followers in a just a few hours. He’s one of the NBA’s few stars without a Twitter presence. Nearly 90% of the league’s players are on the social network, according to Twitter.


But Bryant did become much more active on Facebook this summer, especially while traveling with the United States’ Olympic basketball team. He has nearly 15 million fans there, and reportedly writes his status updates and messages himself, with editing and actual posting done by support staff. In November he asked Facebook fans whether to join Instagram or Twitter next, and on Monday hinted in a status update that he may soon open an Instagram account.


What athletes would you most like to see get more active on social media? Let us know in the comments.


BONUS: 30 Must-Follow Twitter Accounts This NBA SEASON


1. @NBA


The NBA is arguably the world’s most engaging sports league on social media. Follow its official Twitter account for news, highlights and promotions.


Click here to view this gallery.


Thumbnail image courtesy Flickr, Keith Allison


This story originally published on Mashable here.


Social Media News Headlines – Yahoo! News





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'The Hobbit' stays atop box office for third week


LOS ANGELES (AP) — "The Hobbit: An Unexpected Journey" continues to rule them all at the box office, staying on top for a third-straight week and capping a record-setting $10.8 billion year in moviegoing.


The Warner Bros. fantasy epic from director Peter Jackson, based on the beloved J.R.R. Tolkien novel, made nearly $33 million this weekend, according to Sunday studio estimates, despite serious competition from some much-anticipated newcomers. It's now made a whopping $686.7 million worldwide and $222.7 million domestically alone.


Two big holiday movies — and potential Academy Awards contenders — also had strong openings. Quentin Tarantino's spaghetti Western-blaxploitation mash-up "Django Unchained" came in second place for the weekend with $30.7 million. The Weinstein Co. revenge comedy, starring Jamie Foxx as a slave in the Civil War South and Christoph Waltz as the bounty hunter who frees him and then makes him his partner, has earned $64 million since its Christmas Day opening.


And in third place with $28 million was the sweeping, all-singing "Les Miserables," based on the international musical sensation and the Victor Hugo novel of strife and uprising in 19th century France. The Universal Pictures film, with a cast of A-list actors singing live on camera led by Hugh Jackman, Anne Hathaway and Russell Crowe has made $67.5 million domestically and $116.2 worldwide since debuting on Christmas.


Additionally, the smash-hit James Bond adventure "Skyfall" has now made $1 billion internationally to become the most successful film yet in the 50-year franchise, Sony Pictures announced Sunday. The film stars Daniel Craig for the third time as the iconic British superspy.


"This is a great final weekend of the year," said Paul Dergarabedian, an analyst for box-office tracker Hollywood.com. "How perfect to end this year on such a strong note with the top five films performing incredibly well."


The week's other new wide release, the Billy Crystal-Bette Midler comedy "Parental Guidance" from 20th Century Fox, made $14.8 million over the weekend for fourth place and $29.6 million total since opening on Christmas.


Dergarabedian described the holding power of "The Hobbit" in its third week as "just amazing." Jackson shot the film, the first of three prequels to his massively successful "Lord of the Rings" series, in 48 frames per second — double the normal frame rate — for a crisper, more detailed image. It's also available in the usual 24 frames per second and both 2-D and 3-D projections.


"I think people are catching up with the movie. Maybe they're seeing it in multiple formats," he said. "I think it's just a big epic that feels like a great way to end the moviegoing year. There's momentum there with this movie."


"Django Unchained" is just as much of an epic in its own stylishly violent way that's quintessentially Tarantino. Erik Lomis, The Weinstein Co.'s president of theatrical distribution, said the opening exceeded the studio's expectations.


"We're thrilled with it, clearly. We knew it was extremely competitive at Christmas, particularly when you look at the start 'Les Miz' got. We were sort of resigned to being behind them. The fact that we were able to overtake them over the weekend was just great," Lomis said. "Taking nothing away from their number, it's a tribute to the playability of 'Django.'"


"Les Miserables" went into its opening weekend with nearly $40 million in North American grosses, including $18.2 on Christmas Day. That's the second-best opening ever on the holiday following "Sherlock Holmes," which made $24.9 million on Christmas 2009. Tom Hooper, in a follow-up to his Oscar-winner "The King's Speech," directs an enormous, ambitious take on the beloved musical which has earned a CinemaScore of "A'' from audiences and "A-plus" from women.


Nikki Rocco, Universal's head of distribution, said the debut for "Les Miserables" also beat the studio's expectations.


"That $18.2 million Christmas Day opening — people were shocked ... This is a musical!" she said. "Once people see it, they talk about how fabulous it is."


It all adds up to a record-setting year at the movies, beating the previous annual record of $10.6 billion set in 2009. Dergarabedian pointed out that the hits came scattered throughout the year, not just during the summer blockbuster season or prestige-picture time at the end. "Contraband," ''Safe House" and "The Vow" all performed well early on, but then when the big movies came, they were huge. "The Avengers" had the biggest opening ever with $207.4 million in May. The raunchy comedy "Ted" and comic-book behemoth "The Dark Knight Rises" both found enormous audiences. And Paul Thomas Anderson's challenging drama "The Master" shattered records in September when it opened on five screens in New York and Los Angeles with $736,311, for a staggering per-screen average of $147,262.


"We were able to get this record without scratching and clawing to a record," he said.


Estimated ticket sales for Friday through Sunday at U.S. and Canadian theaters, according to Hollywood.com. Where available, latest international numbers are also included. Final domestic figures will be released Monday.


1. "The Hobbit: An Unexpected Journey," $32.9 million ($106.5 million international).


2."Django Unchained," $30.7 million.


3."Les Miserables," $28 million ($38.3 million international).


4."Parental Guidance," $14.8 million ($7 million international).


5."Jack Reacher," $14 million ($18.1 million).


6."This Is 40," $13.2 million.


7."Lincoln," $7.5 million.


8."The Guilt Trip," $6.7 million.


9."Monsters, Inc. 3-D," $6.4 million.


10."Rise of the Guardians," $4.9 million ($11.6 million).


___


Estimated weekend ticket sales at international theaters (excluding the U.S. and Canada) for films distributed overseas by Hollywood studios, according to Rentrak:


1."The Hobbit: An Unexpected Journey," $106.5 million.


2."Life of Pi," $39.2 million.


3."Les Miserables," $38.3 million.


4."Wreck-It Ralph," $20.4 million.


5."Jack Reacher," $18.1 million.


6."Rise of the Guardians," $11.6 million.


7."Parental Guidance," $7 million.


8."The Tower," $6.6 million.


9."Pitch Perfect," $6.2 million.


10."De L'autre Cote Du Periph," $4 million.


___


Online:


http://www.hollywood.com


http://www.rentrak.com


___


Universal and Focus are owned by NBC Universal, a unit of Comcast Corp.; Sony, Columbia, Sony Screen Gems and Sony Pictures Classics are units of Sony Corp.; Paramount is owned by Viacom Inc.; Disney, Pixar and Marvel are owned by The Walt Disney Co.; Miramax is owned by Filmyard Holdings LLC; 20th Century Fox and Fox Searchlight are owned by News Corp.; Warner Bros. and New Line are units of Time Warner Inc.; MGM is owned by a group of former creditors including Highland Capital, Anchorage Advisors and Carl Icahn; Lionsgate is owned by Lions Gate Entertainment Corp.; IFC is owned by AMC Networks Inc.; Rogue is owned by Relativity Media LLC.


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Chinese Firm Is Cleared to Buy American DNA Sequencing Company


Ramin Rahimian for The New York Times


DNA sequencing machines at Complete Genomics in California. The firm dismissed concerns about its acquisition.







The federal government has given national security clearance to the controversial purchase of an American DNA sequencing company by a Chinese firm.




The Chinese firm, BGI-Shenzhen, said in a statement this weekend that its acquisition of Complete Genomics, based in Mountain View, Calif., had been cleared by the federal Committee on Foreign Investment in the United States, which reviews the national security implications of foreign takeovers of American companies. The deal still requires antitrust clearance by the Federal Trade Commission.


Some scientists, politicians and industry executives had said the takeover represented a threat to American competitiveness in DNA sequencing, a technology that is becoming crucial for the development of drugs, diagnostics and improved crops.


The fact that the $117.6 million deal was controversial at all reflects a change in the genomics community.


A decade ago, the Human Genome Project, in which scientists from many nations helped unravel the genetic blueprint of mankind, was celebrated for its spirit of international cooperation. One of the participants in the project was BGI, which was then known as the Beijing Genomics Institute.


But with DNA sequencing now becoming a big business and linchpin of the biotechnology industry, international rivalries and nationalism are starting to move front and center in any acquisition.


Much of the alarm about the deal has been raised by Illumina, a San Diego company that is the market leader in sequencing machines. It has potentially the most to lose from the deal because BGI might buy fewer Illumina products and even become a competitor. Weeks after the BGI deal was announced, Illumina made its own belated bid for Complete Genomics, offering 15 cents a share more than BGI’s bid of $3.15. But Complete Genomics rebuffed Illumina, saying such a merger would never clear antitrust review.


Illumina also hired a Washington lobbyist, the Glover Park Group, to stir up opposition to the deal in Congress. Representative Frank R. Wolf, Republican of Virginia, was the only member of Congress known to have publicly expressed concern.


BGI and Complete Genomics point out that Illumina has long sold its sequencing machines — including a record-setting order of 128 high-end machines — to BGI without raising any security concerns. Sequencing machines have not been subject to export controls like aerospace equipment, lasers, sensors and other gear that can have clear military uses.


“Illumina has never previously considered its business with BGI as ‘sensitive’ in the least,” Ye Yin, the chief operating officer of BGI, said in a November letter to Complete Genomics that was made public in a regulatory filing. In the letter, Illumina was accused of “obvious hypocrisy.”


BGI and Complete said that Illumina was trying to derail the agreement and acquire Complete Genomics itself in order to “eliminate its closest competitor, Complete.”


BGI is already one of the most prolific DNA sequencers in the world, but it buys the sequencing machines it uses from others, mainly Illumina.


Illumina, joined by some American scientists, said it worried that if BGI gained access to Complete’s sequencing technology, the Chinese company might use low prices to undercut the American sequencing companies that now dominate the industry.


Some also said that with Complete Genomics providing an American base, BGI would have access to more DNA samples from Americans, helping it compile a huge database of genetic information that could be used to develop drugs and diagnostic tests. Some also worried about protection of the privacy of genetic information.


“What’s to stop them from mining genomic data of American samples to some unknown nefarious end?” Elaine R. Mardis, co-director of the genome sequencing center at Washington University in St. Louis, said in an e-mail.


Dr. Mardis could not specify what kind of nefarious end she imagined. But opponents of the deal cited a November article in The Atlantic saying that in the future, pathogens could be genetically engineered to attack particular individuals, including the president, based on their DNA sequences.


BGI and Complete Genomics dismissed such concerns as preposterous.


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Tribune Co. set to exit bankruptcy protection









Tribune Co. is expected to emerge from bankruptcy protection Monday with a new board of directors composed largely of entertainment-industry veterans.


Exiting bankruptcy would mark a milestone for Tribune, the parent of the Los Angeles Times and other newspaper and television properties.


Tribune sought court protection in December 2008 after a leveraged buyout by real estate magnate Sam Zell saddled the company with $12.9 billion in debt just as advertising revenue was collapsing. It is one of the longest bankruptcy cases in U.S. corporate history.





Tribune will emerge as a slimmed-down entity with a more stable financial base. But the media conglomerate will still be buffeted by the larger forces pounding the newspaper industry, specifically uncertainty over whether papers can generate sufficient revenue from digital operations.


"Tribune is far stronger than it was when we began the Chapter 11 process four years ago and, given the budget planning we've done, the company is well-positioned for success in 2013," Eddy Hartenstein, Tribune's chief executive, wrote in a note to employees Sunday night.


Tribune's new board of directors is expected to be made up of a who's who of Hollywood players. Most have no hands-on experience running newspapers and television stations, which are Tribune Co.'s biggest assets.


Five of the seven members have ties to the entertainment and media industries, including Hartenstein and Peter Liguori, a former News Corp. executive who is expected to succeed Hartenstein as Tribune CEO in the next few weeks.


Quiz: The year in business


Also expected to be named to the board are Peter Murphy, previously a longtime executive at Walt Disney Co.; Ross Levinsohn, former head of global marketing at Yahoo Inc.; and Craig A. Jacobson, a veteran entertainment attorney.


The board will be rounded out by Bruce Karsh, president of Oaktree Capital Management, the Los Angeles distressed-debt firm that owns about 23% of the new Tribune; and Kenneth Liang, an Oaktree managing director.


Tribune, the parent of the Los Angeles Times, owns 23 local television stations, eight daily newspapers and Internet and other media properties.


Those holdings include KTLA-TV Channel 5, the Chicago Tribune, and national cable station WGN-TV. Tribune also holds slightly less than one-third of the Food Network cable channel and about a 25% stake in the CareerBuilder website.


Liguori is also a former Discovery Communications senior executive whose resume is in programming and marketing. He headed both the FX cable network and Fox Broadcasting at News Corp. At Discovery he served as chief operating officer of the cable programming giant.


Murphy spent almost two decades at Disney, rising to the position of chief strategist. He founded private investment firm Wentworth Capital Management. He has close ties to Angelo, Gordon & Co., an investment firm that will own roughly 9% of the new Tribune Co.


Levinsohn is a former head of global marketing at Yahoo. He also served briefly as its interim CEO prior to Google Inc.'s Marissa Mayer being tapped for that job. Levinsohn also is a former News Corp. executive who headed its interactive unit.


Jacobson, an attorney at Hansen, Jacobson, Teller, Hoberman, Newman, Warren, Richman, Rush & Kaller is one of Hollywood's more prominent deal-makers. His clients have included several high profile executives and performers such as Ryan Seacrest.


Tribune remained profitable throughout the bankruptcy, building cash reserves of more than $2.5 billion as of Nov. 18, according to a U.S. Bankrutpcy Court filing this month. Creditors are expected to immediately take nearly $3 billion in cash out of the new company, some of it coming from a new $1.1 billion loan that was approved as part of the bankruptcy.


A key question still to be answered is what Tribune will do with its newspapers. Some analysts believe the company will seek to sell the slower-growing newspapers to focus on TV holdings.


As for the Los Angeles Times, Rupert Murdoch's News Corp. has expressed interest, according to people familiar with the matter.


Aaron Kushner, owner of the Orange County Register, and Doug Manchester, the San Diego real estate developer who last year bought the local Union Tribune newspaper, also have shown interest.


Austin Beutner, the former venture capitalist and ex-deputy mayor of Los Angeles, told The Times in October that he has reached out to civic-minded investors who would consider acquiring the paper.


walter.hamilton@latimes.com


joe.flint@latimes.com





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