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NOT A SUBSCRIBER?Lenders to control NV BroadcastingPosted on July 15, 2009 2:33 AM
Depressed ad revenues have claimed another media company victim in NV Broadcasting LLC, and now the TV station operator plans to hand its equity to its first- and second-lien lenders to keep from fading to black.
Atlanta-based NV Broadcasting, which owns or is affiliated with 13 TV stations in nine markets, filed for Chapter 11 on Monday with the U.S. Bankruptcy Court for the District of Delaware in Wilmington. Parent company New Vision Television LLC, which is 97% owned by HBK Investments LP, didn't file for bankruptcy. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline.
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