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.
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Michael Malone, senior content producer at B+C/Multichannel News, covers network programming, including entertainment, news and sports on broadcast, cable and streaming; and local broadcast television. He hosts the podcasts Busted Pilot, about what’s new in television, and Series Business, a chat with the creator of a new program, and writes the column “The Watchman.” He joined B+C in 2005. His journalism has also appeared in The New York Times, The Philadelphia Inquirer, Playboy and New York magazine.