LOS ANGELES: The parent company of Honolulu’s KIKU-TV has filed for bankruptcy. International Media Group, Inc., filed for Chapter 11 in U.S. Bankruptcy Court in Delaware on Monday. IMG and its affiliate company, AsianMedia Group LLC, own KIKU as well as KSCI-TV in Los Angeles. The value of its assets is listed between $100 million and $500 million. Houlihan Lokey Capital Inc. is serving as financial advisor. IMG has filed a Motion for Sale of Property.
KIKU is an independent station primarily targeting Asian communities on the Hawaiian Islands. It was previously an secondary UPN affiliate. KSCI in Los Angeles is similarly geared toward the city’s Asian communities among others. The independent station runs nine multicasts in a variety of languages, including Japanese, Korean, Mandarin, Armenian and Spanish.
