On Friday, a jury in U.S. District Court in Little Rock, Ark., found that the transfer of Equity Media Holdings Corp.’s Retro Television Network to Equity’s Chairman-CEO, Henry Luken, for $18.5 million “was a constructively fraudulent transfer,” as alleged by Equity’s bankruptcy trustee. The jury awarded $47.4 million to the bankruptcy trustee. Luken Communications LLC turned around and on Sunday filed for Chapter 11 reorganization in U.S. Bankruptcy Court in Chattanooga.
The network of classic TV shows adds Titan’s KCNS, which drops its Chinese-language programming.
