Jan 10, 2012 12:58 PM
Plum TV, the media company that operates channel 18 on the East End, filed for Chapter 11 bankruptcy protection on January 3 as it grapples with large debts and losses.
The New York City-based company, which operates television stations and magazines in several high end resort locations, is for sale for $1 million and the assumption of $14 million in liabilities, according to documents filed in U.S. Bankruptcy Court for the Southern District of New York. An investor group led by Terry Mackin, president of ForesightLab, and Bill Apfelbaum, chairman of Media Ventures Group, are seeking to buy the company in a court-supervised auction, according to a press release from the company.
“While a filing is a difficult choice, after a tough time for the company, it is the right choice,” Tom... more
The New York City-based company, which operates television stations and magazines in several high end resort locations, is for sale for $1 million and the assumption of $14 million in liabilities, according to documents filed in U.S. Bankruptcy Court for the Southern District of New York. An investor group led by Terry Mackin, president of ForesightLab, and Bill Apfelbaum, chairman of Media Ventures Group, are seeking to buy the company in a court-supervised auction, according to a press release from the company.
“While a filing is a difficult choice, after a tough time for the company, it is the right choice,” Tom... more
