Equity Media Eyes Bankruptcy

By ( Broadcasting & Cable ) published

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.

Michael Malone
Michael Malone

Michael Malone is content director at B+C and Multichannel News. He joined B+C in 2005 and has covered network programming, including entertainment, news and sports on broadcast, cable and streaming; and local broadcast television, including writing the "Local News Close-Up" market profiles. He also hosted the podcasts "Busted Pilot" and "Series Business." His journalism has also appeared in The New York Times, The L.A. Times, The Boston Globe and New York magazine.