The National Association of Television Program Executives said it plans to file to restructure its business with the U.S. Bankruptcy Court under Chapter 11.
The organization said that its financial reserves were drained because its revenue-generating events were canceled because of the COVID-19 pandemic.
As late as 2022, NATPE said it was forced to shut down its flagship conference, which had been scheduled as an in-person event in Miami in January. The cancellation came on relatively short notice, and NATPE ended its long run at the venue's location after that.
NATPE managed to hold its first event in June, an in-person marketplace in Budapest and has announced that its annual January conference is moving from Miami to Nassau, Bahamas.
“NATPE is looking at all possible options to restructure, including raising funds through strategic alliances, and continue to operate NATPE as a more streamlined and reorganized operation,” the organization said in a statement. “For almost 60 years, NATPE has been the leading global professional association for content producers, distributors, developers, streamers and buyers across all distribution platforms. NATPE is optimistic that it will emerge from the reorganization process in the same position.” ■
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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