The streaming company says it filed a voluntary Chapter 11 reorganization at the U.S. Bankruptcy Court in New York due to “the uncertain regulatory and legal climate” following the U.S. Supreme Court’s decision in June that Aereo must pay broadcasters to retransmit their free, over-the-air signals.
Bill Horton, general counsel of Luken Communications, a Chattanooga-based television network provider, announced today that the company will successfully emerge from Chapter 11 bankruptcy by the end of October. The […]
Prospect Park Networks — the production company that launched with high hopes of bringing two canceled ABC soap operas back to life — has put itself on legal life support. The production firm based in Century City, Calif., headed by veteran producers Jeff Kwatinetz and Rich Frank, said Monday that it has filed for Chapter 11 bankruptcy protection.
BCCA, the media industry’s credit association, is offering a distance learning webinar to address “What Every Media Credit Manager Needs to Know About Bankruptcies” on Thursday, Jan. 16, from 3:30-4:45 […]
Exclusives
U.S. media giant the Tribune Co, owner of 23 television stations and eight major daily newspapers including the Los Angeles Times and the Chicago Tribune, said late on Sunday it will emerge from bankruptcy on Dec. 31, ending four years of Chapter 11 reorganization.
American Suzuki, whose U.S. demand plunged while the industry climbed back from recession, said it will end U.S. auto sales and filed for Chapter 11 bankruptcy protection. The company said it will continue its motorcycle and marine engine business units and will continue to honor auto customers’ warranties.
Junior bondholders in the Tribune Co.’s bankruptcy appealed Monday’s confirmation decision in the case and asked the judge to stay consummation of a restructuring plan that would hand ownership of the Chicago-based media company to its senior creditors.
U.S. Bankruptcy Judge Kevin Carey in Wilmington, Del., on Friday overruled outstanding objections by various creditors to the plan, which leaves Tribune in the hands of a new ownership group led by hedge fund Oaktree Capital Management, JPMorgan Chase and Angelo, Gordon & Co.
U.S. bankruptcy judge Kevin Carey said Wednesday that he has drafted a 50-page opinion and will issue a formal ruling by Friday.
It took three-and-a-half years and at least $410 million in fees billed by lawyers and other professionals, but it appears Tribune Co. may be on the verge of winning approval for a plan to emerge from bankruptcy court.
Tribune Co., the biggest news media company in bankruptcy, paid lawyers and other advisers $233.3 million since filing for court protection from creditors in December 2008. The two main law firms in the case collected almost half of all the money spent to reorganize the newspaper and television company, according to records filed Tuesday in U.S. Bankruptcy Court.
Tribune Co. has spent nearly $231 million so far on its three-year-old bankruptcy and related litigation. The media company’s bill for professional fees, mostly for attorneys who represent it in court, totals $212.9 million, and it has spent another $17.8 million on their expenses, according to the company’s December monthly operating report filed with the court last week.
Kodak filed for Chapter 11 bankruptcy protection today, raising the specter that the 132-year-old trailblazer could become the most storied casualty of a digital age that has whipped up a maelstrom of economic, social and technological change.
Plum TV, Inc., owner of the Plum Network of local cable channels serving upscale and resort markets around the country, announced Tuesday that it has filed chapter 11 cases in […]
Fox Sports says the team need not pursue bankruptcy because creditors can be repaid when the team is sold. The Dodgers call the move ‘an act of utter desperation.’
A judge’s finding last week for holders of certain notes could support recovery claims of the company chairman.
U.S. bankruptcy judge Kevin J. Carey has rejected Tribune Co.’s plan for reorganizing the company so that it can emerge from bankruptcy. A rival proposal from Tribune creditors did not pass muster either.
Roberts Broadcasting Files For Bankruptcy
The four TV stations owned by brothers Michael (l) and Steven Roberts have filed for Chapter 11 bankruptcy. They are: WRBU St. Louis; WRZB Columbia, S.C.; WRBJ Jackson, Miss.; and WAZE Evansville, Ind. In addition to the television stations, the Roberts brothers’ portfolio includes 11 hotels, a radio station and substantial residential and commercial real estate holdings.
Tribune Co., which owns the Chicago Tribune, the Los Angeles Times, other major newspapers and more than 20 television and radio stations, filed for bankruptcy protection in December 2008. On Monday, the company sought approval from a federal judge for a plan that includes a settlement that would shield the buyout lenders from lawsuits but would allow claims against others involved in the buyout, including Sam Zell and other Tribune Co. officers and directors.
The attorney for the debtor-in-possession of bankrupt KFFV Seattle will auction off the independent station on June 30 with the help of broker Kalil & Co. The stalking horse bid is $3,450,000. The first overbid must be at least $3.7 million.
