KBMT Beaumont part of a bankruptcy proceeding?

[TexasTuner]

This just in from "TV Spy", an online daily for the tv newsfolks out there...

According to several reports, Freedom Communications Inc,. the owner of 33 daily newspapers, including the Orange County Register, as well as eight television stations, will declare bankruptcy this week.

Freedom Communications becomes the most recent media company to seek bankruptcy protection in the last several months, joining a group that includes Tribune Co., Young Broadcasting, and ION Media. According to The Wall Street Journal, Freedom has annual revenue of about $700 million and earnings before interest, taxes, depreciation and amortization--an important measurement for leveraged companies--have declined about 75% over the past five years to about $50 million.

The company has been owned by the Hoiles family for over 70 years. Among the television stations that Freedom owns, WPEC, a CBS affiliate in West Palm Beach, Florida, operates in the largest DMA. Here's a list of Freedom stations...

WPEC, West Palm Beach, Florida

WWMT, Grand Rapids, Michigan

WRGB, Albany, New York

WCWN, Albany, New York

WTVC, Chattanooga, Tennessee

WLAJ, Lansing , Michigan

KTVL, Medford, Orgeon

KFDM, Beaumont, Texas

 

[azumanga]

This just in from "TV Spy", an online daily for the tv newsfolks out there...

The company has been owned by the Hoiles family for over 70 years. Among the television stations that Freedom owns, WPEC, a CBS affiliate in West Palm Beach, Florida, operates in the largest DMA. Here's a list of Freedom stations...

KFDM, Beaumont, Texas

As the article implies, Freedom owns KFDM, not KBMT (which is owned by London).

 

[mmnassour]

While not surprising, the Times article doesn't speculate on where it is simply restructuring, or whether some properties would have to be sold off.