Media Firm Fuse Plans Quick Ch. 11 As Contract Row Looms
Law360, Wilmington (April 24, 2019, 6:31 PM EDT) -- Multicultural media company Fuse told a Delaware bankruptcy judge Wednesday it hopes to have the court confirm its prepackaged debt-for-equity Chapter 11 that will wipe away $200 million in debt in early June, but DirecTV said a contract dispute could slow down proceedings.
During a hearing in Wilmington to consider first-day motions, Fuse LLC told U.S. Bankruptcy Judge Kevin Gross that it wants to confirm its Chapter 11 plan by June 5, and that a fight is brewing in California state court over what AT&T Services Inc.-affiliated satellite broadcast provider DirecTV contends are breaches of an affiliation agreement by Fuse, though that...
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