International Media Group Turns To Ch. 11 For Asset Sale

Law360, New York (January 9, 2012, 6:02 PM EST) -- International Media Group Inc., an operator of television stations serving Asian populations in California and Hawaii, said Monday that it intends to sell off its assets in a bankruptcy filing.

Los Angeles-based International Media Group's Chief Restructuring Officer Dennis J. Davis said in an affidavit accompanying the filing that the company had been struggling with a decline in the advertising sales and paid programming market, including infomercials. The company's lenders, led by General Electric Capital Corp., entered into several forbearance agreements beginning in 2009 after the...
To view the full article, register now.