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Bankruptcies

Publisher Ziff Davis Media to File for Bankruptcy

Authored by Mark Hefflinger on March 5, 2008 - 11:06am.

New York - Publisher and event producer Ziff Davis Media announced on Wednesday that it plans to file for Ch. 11 bankruptcy protection, and will set aside $24.5 million to fund operations during and after it emerges from the process, expected to conclude this summer. The company, which publishes PC Magazine and Electronic Gaming Monthly magazines, and websites including 1UP.com, said it has also reached an agreement with investors on a restructuring plan to reduce its funded indebtedness.

tags: Games | Magazines | Publishing | Bankruptcies | Ziff Davis Media |

Bankrupt Movie Gallery's Shares to Delist From Nasdaq

Authored by Mark Hefflinger on October 19, 2007 - 8:58am.

Dothan, Ala. - Movie Gallery, the large movie rental store chain that declared bankruptcy earlier this week, announced on Friday that its stock will be delisted from the Nasdaq on Oct. 25.

tags: Movies | Nasdaq | Movie Gallery | Bankruptcies |

Mobile Content Publisher Oasys Mobile Files for Bankruptcy

Authored by Mark Hefflinger on July 19, 2007 - 1:11pm.

Raleigh, N.C. - Oasys Mobile, a provider of content over mobile devices, announced on Thursday that it has filed for voluntary Chapter 11 bankruptcy protection.

tags: Games | Mobile | Oasys Mobile | Cellphones | Bankruptcies |

Electronics Retailer Tweeter Restructuring Under Chapter 11

Authored by Mark Hefflinger on June 12, 2007 - 11:48am.

Canton, Mass. - Tweeter Home Entertainment Group, a, specialty consumer electronics retailer, has filed for protection under Chapter 11 bankruptcy.

tags: Retail | Bankruptcies | Tweeter Home Entertainment |

Air America Radio Files for Chapter 11 Bankruptcy Protection

Authored by robert on October 13, 2006 - 1:04pm.
New York - Air America Radio, a liberal talk and news radio network that features the comedian Al Franken, has filed for Chapter 11 bankruptcy protection. The network had in recent weeks denied rumors that it would file for bankruptcy. Jaime Horn, an Air America spokeswoman, told the Associated Press that the filing became necessary after negotiations with a long-standing creditor had deteriorated. The network will remain on the air as it attempts to resolve issues with its creditors. Also on Friday, the company named the former GM of New York radio station WLIB, Scott Elberg, as its new CEO
tags: Radio | Investing | Talk Radio | Bankruptcies | Air America |

Bankrupt Tower Records Sells Assets, Will Close Retail Stores

Authored by Mark Hefflinger on October 10, 2006 - 4:56pm.
Los Angeles - Music retailer Tower Records will shutter its 89 U.S. locations, a result of the sale of the bankrupt company's assets at auction on Friday to liquidation firm Great American Group for $134.3 million. An e-mail sent to employees from Tower CEO Joseph D'Amico said in part: "My heart goes out to each of you who have poured your hearts and souls into this great company," according to The Hollywood Reporter, which also quoted Tower attorney peter Gurfein as saying liquidation and going out of business sales launched over the weekend. Bidders for the assets of the 46-year-old company included fellow music retailer Trans World Entertainment (FYE), and Radius Equity, which had promised to keep Tower Records stores open. The company's online store at Tower.com was sold separately from the real estate holdings, and on Tuesday was still operating.
tags: Video | Music | Commerce | Investing | Retail | Closings | Tower Records | Bankruptcies |

Adelphia Closes $12.5 Billion Asset Sale to Comcast, Time Warner Cable

Authored by Mark Hefflinger on August 1, 2006 - 5:12pm.
Greenwood Village, Calif. - Bankrupt cable TV provider Adelphia announced on Tuesday that it has completed the sale of its assets to Time Warner Cable and Comcast for a combined $12.5 billion in cash, and about 16% of Time Warner Cable equity.
tags: Investing | Comcast | Cable | Time Warner Cable | Adelphia | Asset Sales | Bankruptcies |