Low Ad Sales Drive TV Station Owner To Ch. 11
On Saturday, the Visalia, Calif.-based company and about 20 of its subsidiaries filed voluntary petitions seeking Chapter 11 relief in the U.S. Bankruptcy Court for the District of Delaware. PTI listed assets of almost $460 million and debts of $537 million.
In an affidavit in support of the Chapter 11 filings, PTI Chairman and CEO Henry Pappas blamed the...
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