The former Fox Broadcasting president and Discovery Communications COO is a “leading candidate” to become Tribune‘s CEO after it emerges from bankruptcy, Reuters says. The wire service, citing two unnamed sources “close to the situation,” says that talks are in the late stages but could still fall apart. Peter Liguori would replace Eddy Hartenstein, who has been CEO of the newspaper and broadcast company since May 2011. But several things have to happen before Liguori could come aboard. Tribune needs FCC approval to transfer its 24 TV and radio station licenses to new owners before it can emerge from bankruptcy. The company has to assemble a new board of directors. Reuters also says that Liguori would have to be approved by Tribune’s biggest creditors: Oaktree Capital Management, JPMorgan Chase, and Angelo, Gordon & Co. Liguori left Discovery late last year after briefly stepping in to run its OWN joint venture with Oprah Winfrey. Since then he has joined the boards of Yahoo and MGM and agreed to consult for the Carlyle Group.