NV Broadcasting owns 14 TV stations and has filed for bankruptcy. Several other TV station owners are already in bankruptcy and Sinclair is considering it. NV is located in Atlanta, and is “turning over the company” to its private equity lenders.
Meanwhile, BloomBama News Service says the economy is rebounding because the price of gasoline went up.
According to the Baltimore MD Business Journal, Sinclair Broadcasting has filed an 8-K form (Material Event) stating that they may be forced to file Chapter 11. Sinclair used to be in the radio business, but sold that part of the company about 10 years ago. They operate 38 TV stations, and have been hard hit by the drop in TV advertising for automobiles.
Not mentioned in the story is Sinclair was also the target of a boycott in 2004 for planning to run a TV show that showed Vietnam Hero Senator John “F” Kerry in an unfavorable light.