Creditors File Involuntary Chapter 11 Petition Against Inner City Media Corp.
August 22, 2011 at 3:46 AM (PT)
BLOOMBERG is reporting that creditors of INNER CITY BROADCASTING CO. holding company INNER CITY MEDIA CORP. have filed an involuntary Chapter 11 bankruptcy petition against the company.
The filing by a group including funds controlled by YUCAIPA CO. lists $254 million in debt. The case has been filed in U.S. Bankruptcy Court in the Southern District of NEW YORK.
INNER CITY MEDIA CORP. is the holding company for ICBC BROADCAST HOLDINGS, INC. stations.