Blogs
Dec 16

Written by:
12/16/2008 5:08 AM  RssIcon

Severe weather has closed down much of Little Rock, Ark., postponing a hearing of Equity Media Holdings in U.S. Bankruptcy Court.

As reported last week by arkansasbusiness.com, one of the company’s creditors is seeking to change Equity’s bankruptcy from Chapter 11 to involuntary Chapter 7, meaning a liquidation of the company could ultimately result.

A hearing was scheduled for today (Dec. 16), but a recorded message at the court’s telephone number says it’s closed due to the weather.

Equity owns 121 TV stations, including many Univision affiliates, although only 23 are full-power.

According to arkansasbusiness.com, Silver Point Finance LLC of Greenwich, Conn., is seeking about $41.5 million it loaned to Equity, and says the broadcaster can’t pay its workers.

Equity’s stock price, soaring above $5 per share just a few years ago, sold for less than 3 cents per share Monday afternoon.

Tags:
Categories:

Your name:
Gravatar Preview
Your email:
(Optional) Email used only to show Gravatar.
Your website:
Title:
Comment:
Add Comment   Cancel 




Tuesday 06:00 AM
Eleven FCC Scenarios for The 600 MHz Band Plan
I suspect that the estimated $44 billion of auction proceeds do not take into account the fact that some spectrum the FCC will buy cannot be resold because it must be used as guard intervals in the 600 MHz band plan.~ Charles W. Rhodes

Zazil Media Group /   Thursday 11:07 AM
NAB 2015 Preview: Dalet Spearheads the Facility of the Future
Wall Street Communications /   Thursday 07:36 PM
Digital Alert Systems 2015 NAB Show Preview

 
Featured Articles
Discover TV Technology