It doesn't sound good, that's for sure. Looks like I might be moving the 1.0 meter over to AMC-21. 
Equity woes
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What will happen to RTN?
I was watching the news on one of the RTN channels on Galaxy 18, If I understood correctly they defaulted on several million in loans. If they bankrupt wonder what will happen? I would assume we'll see a great loss on American FTA....Hopefully I'm wrong and misunderstood!
I was watching the news on one of the RTN channels on Galaxy 18, If I understood correctly they defaulted on several million in loans. If they bankrupt wonder what will happen? I would assume we'll see a great loss on American FTA....Hopefully I'm wrong and misunderstood!
Liquidation
This doesn't look good:
Equity Media lender asks court for liquidation| Reuters
Here's a timeline:
Equity Media's Slide into Bankruptcy - ArkansasBusiness.com
Your two cents would be appreciated, but the liquidation argument makes the chances of a continued existence for Equity seem pretty dismal to me.
This doesn't look good:
Equity Media lender asks court for liquidation| Reuters
Here's a timeline:
Equity Media's Slide into Bankruptcy - ArkansasBusiness.com
Your two cents would be appreciated, but the liquidation argument makes the chances of a continued existence for Equity seem pretty dismal to me.
Equity Media Eyes Bankruptcy
Owner of English- and Spanish-language stations in 41 markets looking for Chapter 11 protection
By Michael Malone -- Broadcasting & Cable, 12/9/2008
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.
comment:
[...] The very first headline listed under your "related topics" is "Equity Media Sells RTN to Ease Crunch." Their option to buy the network back expires in a few weeks.
http://www.broadcastingcable.com/article/CA6620994.html
Owner of English- and Spanish-language stations in 41 markets looking for Chapter 11 protection
By Michael Malone -- Broadcasting & Cable, 12/9/2008
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.
comment:
[...] The very first headline listed under your "related topics" is "Equity Media Sells RTN to Ease Crunch." Their option to buy the network back expires in a few weeks.
http://www.broadcastingcable.com/article/CA6620994.html
Whoever is handling the bankruptcy, if they are smart I would think they would evaluate if cost of daily operations is more than revenue, when making a decision whether to continue or cease uplinking.
Ah, Equity doesn't own RTN anymore, just read it myself. Things could get interesting.
Ah, Equity doesn't own RTN anymore, just read it myself. Things could get interesting.
Bankruptcy doesn't mean they will cease to exist. I suspect some other company will buy them for pennies on the dollar and continue the operations.
If someone buys them at pennies on the dollar, the buyer would still have a lot of debt to contend with. I don't know a fool thing about business, but mismanagement appears to have been rampant at this company. Threatening your lender with bodacious nutcase statements (as alleged) seems outright stupidity to me.
The FOX stations in Montana are all on sale for $200,000. There is no studio site for them, and they have no digital transmitters.:tux:
The FOX stations in Montana are all on sale for $200,000. There is no studio site for them, and they have no digital transmitters.:tux:
So basically that just means the franchise rights for $200,00? Or are there anolog transmitters that are not required to go digital in February?
The 3 Fox stations in Montana (KBTZ, KMMF, KLMN) are all full powered stations so they are REQUIRED to go digital on 2/17/09. All will do a flash cut
KMMF & KLMN have -LP translator stations which do not have to go digital
interesting info...looks like a 6 month extension
Most of their stations though are LP or CA which do not have to upgrade by 2/17/09 so they have that in their favor
Most of their stations though are LP or CA which do not have to upgrade by 2/17/09 so they have that in their favor
"Complicating the situation is the fact that KLMN's owner, Arkansas-based Equity Media Holdings, entered Chapter 11 bankruptcy reorganization proceedings in December. According to an FCC filing, Equity applied for permission to reduce its analog signal to a 50-kilowatt, low-power station signal if necessary. A switch to low power would leave the Great Falls area with coverage, the filing said, but viewers in rural areas could be affected."
I can't find the filing online at the FCC.
Here's the news story:
TV stations pay high price for digital conversion
- - - - - - - - - - -
Also,
"HOGGIN’ THE AIRWAVES: Remember when KWBF, 101.1 FM, RTN Radio went silent in November about the same time its previous operator, the financially troubled Little Rock-based Equity Media Holdings Corp., began selling off its national chain of TV stations?"
What was RTN Radio?
Unfortunately, you'd need a subscription to read the article:
PAPER TRAILS: Eclectic mix squeals like pig on radio
Equity Media Lands $58 Million Loan
This sounds encouraging:
Equity Media Lands $58 Million Loan - ArkansasBusiness.com
If Equity can keep its head above water and then get their feet back on solid ground, maybe the split with RTN will actually turn out to be a good thing for FTA in the long run.
This sounds encouraging:
Equity Media Lands $58 Million Loan - ArkansasBusiness.com
If Equity can keep its head above water and then get their feet back on solid ground, maybe the split with RTN will actually turn out to be a good thing for FTA in the long run.
A little more insight into the Equity mess:
Equity's Management Cause of Downfall, Former CEO Asserts - ArkansasBusiness.com
I'm sure some of the comments, specifically by Luken and his opinion that Equity will cease, are at grounded in at least some emotions. However, it sounds rather justified when you find out that the "Red Screen of Death" phone number was his personal cell phone.
One bright spot is that Luken wants to continue the "CASH" system for other ventures -- which would be very nice for us.
Equity's Management Cause of Downfall, Former CEO Asserts - ArkansasBusiness.com
I'm sure some of the comments, specifically by Luken and his opinion that Equity will cease, are at grounded in at least some emotions. However, it sounds rather justified when you find out that the "Red Screen of Death" phone number was his personal cell phone.
One bright spot is that Luken wants to continue the "CASH" system for other ventures -- which would be very nice for us.
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