LBI Media Emerges From Chapter 11 Bankruptcy

Fresh Start

LBI MEDIA, INC. has announced its emergence from Chapter 11 bankruptcy. The company jettisoned over $350 million of debt in the process.

“LBI MEDIA has a terrific group of assets with exceptional potential.  Completion of LBI’s financial restructuring provides a strong financial foundation and significant flexibility to grow the business,” said LBI's new CEO PETER MARKHAM.  “The ownership team is committed to the long-term success of LBI MEDIA and the continued expansion of its platform targeted to the growing U.S. Hispanic market.

“I would like to thank JOSÉ and LENARD LIBERMAN, pioneers in Hispanic broadcasting, for their vision and leadership during the past 30 years and our talented and committed employees who ensured our operations continued as usual during the restructuring process. We move forward well positioned for the future and with the resources to pursue new opportunities.”

In addition to LBI taking the Interim label off MARKHAM's CEO position, CFO BRIAN KEI has been upped to COO.

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