Equity Media Holdings Corp. Files for Bankruptcy

Today, Equity Media Holdings Corporation filed a voluntary petition under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of Arkansas.  The company operates English- and Spanish-language radio stations in 41 U.S. cities.  The bankruptcy filing follows the company’s default on a $41.5 million loan.  The company is headquartered in Little Rock and is an affiliate of Univision Communications, Inc.

Key facts regarding the filing:

• Assets: $103 million
• Employees: 312
• Annual Revenues: $28 million (2007)
• Debtor Counsel: James F. Dowden, P.A.

The following map depicts the cities where Equity Media operates stations:

 

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Tribune Company Files for Bankruptcy in Delaware

Tribune Company, the country’s second largest newspaper publishing company and publisher of, among many others, the Chicago Tribune and the Los Angeles Times, filed for chapter 11 bankruptcy protection this morning in the United States Bankruptcy Court for the District of Delaware.  The Chicago Cubs Major League Baseball franchise was not included in the bankruptcy filing.

Tribune Company, which was formed in 1847 in Chicago, was taken private last year by Sam Zell in an $8.3 billion transaction.  The company listed assets of approximately $7.6 billion and debts of approximately $12.9 billion in its chapter 11 voluntary petition.  For fiscal year 2007, Tribune Company had operating revenues of just over $5 billion and net income of approximately $87 million.  The company has approximately 21,500 employees.

The company is represented by Sidley Austin LLP and Cole, Schotz, Meisel, Forman & Leonard LLP.  Judge Kevin Carey has been assigned to the bankruptcy cases. 

Thus far, only the voluntary petition, which lists the company’s largest creditors and various financial information, has been filed with the banrkuptcy court.  A copy of the petition can be downloaded here.

More information regarding the company’s first day pleadings will follow as they are filed.

Pilgrim’s Pride Creditors’ Committee Appointed

The United States Trustee has selected the members of the Official Committee of Unsecured Creditors in the Pilgrim’s Pride Corporation bankruptcy cases.  The members of the Creditors’ Committee are:

• AlaTrade Foods, LLC
• The Bank of New York Mellon Trust
• Calamos Advisors LLC
• HSBC Bank USA, National Association
• International Paper Company
• Kornitzer Capital Management/Great Plains Trust Company/Buffalo Funds
• Newly Weds Foods, Inc.
• Oaktree Capital Management, L.P.
• Pension Benefit Guaranty Corp.

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Tribune Co. Hires Bankruptcy Advisers: Wall Street Journal & New York Times Report

The Wall Street Journal and the New York Times each reported on Sunday that Tribune Co. has hired Lazard Ltd. and Sidley Austin LLP to advise the company with respect to a possible bankruptcy filing.  The Wall Street Journal is also reporting that such a filing could occur as early as this week.  The WSJ article can be found here (subscription required).  The New York Times articles can be found here (DealBook) and here (Media & Advertising).

Interstate Bakeries’ Plan of Reorganization Confirmed

On Friday, the bankruptcy court entered an order confirming the the Amended Joint Plan of Reorganization of Interstate Bakeries Corporation and its affiliates dated October 31, 2008.  A copy of the confirmation order can be viewed here.

Creditors’ Committee Appointed in Village Homes of Colorado Bankruptcy Cases

On Friday, the United States Trustee appointed the members of the Official Committee of Unsecured Creditors in the Village Homes of Colorado, Inc. bankruptcy cases.  The members of the Creditors’ Committee are:

• LPA Plumbing, Inc.
• Rocky Mountain Drywall, Inc.
• Creative Touch Interiors, Inc.
• C-Con, LLC
• Majestic Restoration Services, Inc.
• Moulton Custom Woodworks
• Metco Landscape, Inc.

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Tweeter Opco Bankruptcy Converted to Chapter 7; Trustee Appointed

On Friday, the bankruptcy court entered an order converting the bankruptcy cases of Tweeter Opco, LLC and its affiliates from reorganization cases under chapter 11 to liquidation cases under chapter 7 of the Bankruptcy Code. 

You can find the rest of this posting at our new blog location: www.netdocketsblog.com.

Deadline/Bar Date Set for Filing Claims Against Storm Cat Energy (USA)

On Friday, the bankruptcy court entered an order setting the deadline (or bar date) for the filing of proofs of claim and proofs of interest on account of pre-filing claims against and interests in Storm Cat Energy (USA) Corporation and certain of its affiliates.  The bar date is January 30, 2009.  A list of the affiliates of Storm Cat Energy (USA) Corp. that have also filed for bankruptcy (and for which the bar date will apply) is included in the order.

View a copy of the order here.

Creditors’ Committee Appointed in Lenox Sales Bankruptcy Cases

The United States Trustee has appointed the members of the Official Committee of Unsecured Creditors in the bankrutpcy cases for Lenox Sales, Inc.  The members of the Creditors’ Committee are:

• Pension Benefit Guaranty Corp.
• The Taubman Company LLC
• North American Color, Inc.

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