Several cable TV networks led by ESPN are
among the creditors in the Chapter 11 bankruptcy filing by media buyer KSL
According to summary
of court documents prepared for the Media Finance Management Association, ESPN
is owed nearly $4.2 million.
creditors included FX Networks, owned $1.8 million, Home Team Sports, owned
$1.3 million, Comedy Central, owed $1.2 million, Turner Digital, owed $1.2
million, Lifetime, owed $977,00; Invention Channel owed $887,000 and NBC Sports
Network owed $820,000.
Golf Channel, USA Network, TLC, HGTV,
E Entertainment, Travel Channel, Animal Planet and Food Network are each owed
between $500,000 and $800,000
The Chapter 11
petitions were filed Sept. 11 in U.S. Bankruptcy Court for Central California.
According to a
declaration filed with the court by KSL controller Janet Miller-Allen, the
company intends to wind down its operation. Miller-Allen filed a
declaration with the court charging that one of her predecessors as controller
embezzled money from KSL leading to millions of dollars in damages and losses.
A separate lawsuit,
KSL Media Inc. v. Charness et all, is pending in California Superior Court in Los Angeles count.
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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