Channel Master Files Chapter 11

Channel Master, a Smithfield, N.C.-based manufacturer of satellite antenna systems, has filed for Chapter 11 bankruptcy. The company made its filing in order to complete a "going concern" sale of the assets of the company and continue as an ongoing business. Immediately prior to the bankruptcy filing, Channel Master a

Author:: TVTechnology
Publish date:: Oct 8, 2003
Social count:: 0

Channel Master, a Smithfield, N.C.-based manufacturer of satellite antenna systems, has filed for Chapter 11 bankruptcy.

The company made its filing in order to complete a "going concern" sale of the assets of the company and continue as an ongoing business. Immediately prior to the bankruptcy filing, Channel Master agreed to sell its assets to Andrew Corp., according to published reports. Channel Master president Bill Currer told the "Charlotte Observer" that he expects the company to be sold by November.

Channel Master blamed its bankruptcy on the loss of its biggest customer, EchoStar, according to the paper.

Silicon Graphics Inc. , a developer of high-performance computer workstations, filed for Chapter 11 Bankruptcy protection on May 8. The Mountain View, Calif.-based company reached an agreement with its bank lenders and debt holders to reduce its debt by about $250 million. "This is a necessary and responsible step t

The company plans to restructure its debt and continue operating its 10 TV stations "without interruption" it said.

VOD developer DIVA Systems Corp. recently filed for reorganization under Chapter 11 bankruptcy before a court in California, and filed a voluntary, prenegotiated reorganization plan in which a subsidiary of Gemstar-TV Guide will acquire all of DIVA's assets. A majority of DIVA's debt holders have approved the reorgani

Protection sought while sale is pursued

Station operation to continue uninterrupted

After spending nine months under chapter 11 court protection, Arlington, Va.-based Henninger Media Services has met the conditions of its reorganization on schedule. The company, one of the largest post production facilities in the Mid-Atlantic region, recently secured financing from Advisco Capital Corp. and establish

Debt to be reduced by $8 billion

Lenders to take over the assets