Media Company Bankruptcies

On January 22nd, Affiliated Media, Inc. (the “Debtor” or “Affiliated”), filed a chapter 11 petition for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  According to documents filed with the Bankruptcy Court,  the Debtor’s operations include daily and weekly newspapers, “niche publications,” internet websites, four radio stations and a television station…

Introduction

Freedom Communications Holdings, the Orange County, California newspaper publisher, filed for bankruptcy in the United States Bankruptcy Court for the District of Delaware on September 1, 2009.  (You can review a copy of Freedom’s Petition for Bankruptcy here.)  According to the Declaration of Freedom’s Chief Financial Officer, the company’s decision to file for…

Introduction

On April 27, 2009, Source Interlink and 17 of its affiliates (the “Debtors”) filed chapter 11 bankruptcy petitions in the United States Bankruptcy Court for the District of Delaware.  As reflected in its bankruptcy petitions, Debtors have assets totaling $2.4 billion against debts of $2.0 billion.  According to Debtors’ Declaration in Support of…

Introduction

Chicago media giant, Sun-Times Media Group (“Sun-Times” or “Debtors”), filed chapter 11 bankruptcy petitions in the Delaware Bankruptcy Court on March 31, 2009.  In initial pleadings filed with the Bankruptcy Court,  Sun-Times states that it is in a “unique position” for a newspaper company in bankruptcy in that it filed bankruptcy “without any outstanding…