Ebony Media Heads For Auction With $14M Stalking Horse

Law360 (October 9, 2020, 8:21 PM EDT) -- A Texas bankruptcy judge on Friday gave the bankrupt owner of long-running Black cultural magazines Ebony and Jet the go-ahead to put itself up for sale with a $14 million stalking horse bid.

Under the bid procedures approved by U.S. Bankruptcy Judge David Jones at the remote hearing, prospective buyers of Ebony Media Operations will have until Dec. 7 to submit a higher bid for the company than the offer made by Bridgeman Sports and Media LLC at the beginning of September.

Bankruptcy proceedings against Ebony Media began in July, when creditors Parkview Capital Credit Inc., photo studio Plum Studio and...

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