Post by MasterFX1 on Feb 13, 2009 22:29:08 GMT -5
WTEN-TV's owner files for Chapter 11
Last updated: 10:24 p.m., Friday, February 13, 2009
NEW YORK — Young Broadcasting Inc., owner of Capital Region station WTEN-TV and several other stations in the United States, said Friday it has filed for Chapter 11 protection in U.S. bankruptcy court in the Southern District of New York.
The New York-based company said it will continue to operate the stations without interruption.
"Our decision to restructure through a Chapter 11 filing will allow the company to bring its debt in line with current economic realities so that we can emerge a stronger and more financially secure company. It is important to note that we are restructuring our debt, not our operations," says Chairman Vincent Young in a written statement.
— The Associated Press
Last updated: 10:24 p.m., Friday, February 13, 2009
NEW YORK — Young Broadcasting Inc., owner of Capital Region station WTEN-TV and several other stations in the United States, said Friday it has filed for Chapter 11 protection in U.S. bankruptcy court in the Southern District of New York.
The New York-based company said it will continue to operate the stations without interruption.
"Our decision to restructure through a Chapter 11 filing will allow the company to bring its debt in line with current economic realities so that we can emerge a stronger and more financially secure company. It is important to note that we are restructuring our debt, not our operations," says Chairman Vincent Young in a written statement.
— The Associated Press