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Equity Media Eyes Bankruptcy

Recession 2008: Continuing Coverage of the Economic Impact on The Media Business

Equity Media Holdings Corp., which operates both English- and Spanish-language stations in 41 markets, has sought bankruptcy protection, reports Bloomberg, which says the broadcaster defaulted on a $41.5 million loan.

Equity Media did not return a call at presstime.

Last month, Equity Media sold KWBF Little Rock to Nexstar for $4 million. It sold the digital channel RTN to Luken Communications in June.

Equity Media filed for Chapter 11 in Little Rock, Ark., reports Bloomberg, where it is based.