Broadcaster Slips Into Ch. 11 After $47M Jury Verdict
On Friday, an Arkansas federal jury found that the Retro TV deal severely undervalued the network, whose former owner — Equity Media Holdings Corp. — slipped into bankruptcy just six months after the June 2008 transaction.
The jury agreed with Equity Media’s Chapter 7 trustee that the $18.5 million deal — orchestrated by Equity Media’s then-CEO,...
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