CHICAGO, July 16, 2013 /PRNewswire/ -- Tribune Company today announced the appointment of Murray McQueen to the newly created position of President/Real Estate, responsible for the strategic development of the company's valuable portfolio of more than seven million square feet of real estate assets, including the historic Tribune Tower in Chicago and Times Mirror Square in downtown Los Angeles. He also will oversee the management of all property leasing activities. McQueen assumes his new duties immediately.
"Tribune's real estate holdings are significant assets for the company and Murray will make sure that we are maximizing their value for our shareholders," said Peter Liguori, Tribune's President and Chief Executive Officer. "Murray's real estate savvy will help us manage our properties and maximize their utility, and his extensive experience managing billions of dollars in real estate financings, joint ventures and asset sales will serve to create a vision for our diverse real estate portfolio."
McQueen was a co-founder and managing partner of Channel West Group, established in 2011 to act as operating partner in principal transactions and perform advisory and asset management work involving complex real estate structures and asset repositioning. The company works across all real estate asset product types and is primarily focused on property in the Western United States. Prior to Channel West, McQueen was a Managing Director at Cerberus Capital, where, from 2005 to 2011, he was responsible for the management and oversight of key portions of the firm's overall real estate practice. Before Cerberus, McQueen held positions of increasing responsibility at Credit Suisse First Boston/DJL Real Estate and Citicorp Real Estate.
"Tribune has significant scale in real estate and owns truly marquee property in some of the country's best markets," said McQueen. "The strategic development of the entire portfolio, the opportunity to grow and maximize the value of these assets is exciting and something I am very much looking forward to doing."
McQueen earned his undergraduate degree in economics from Santa Clara University in 1983 and his MBA in real estate finance from UCLA in 1989.
TRIBUNE is one of the country's leading multimedia companies, operating businesses in broadcasting, publishing, and interactive. The company's broadcasting group owns or operates 23 television stations, WGN America on national cable, the national multicast network, Antenna TV, Tribune Studios, and Chicago's WGN-AM. In publishing, Tribune's leading daily newspapers include the Los Angeles Times, Chicago Tribune, The Baltimore Sun, Sun Sentinel (South Florida), Orlando Sentinel, Hartford Courant, The Morning Call and Daily Press. Popular news and information websites complement Tribune's print and broadcast properties and extend the company's nationwide audience.
SOURCE Tribune Company