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Equity Media Holdings Corporation was a broadcasting company based in Little Rock, Arkansas that owned and operated television stations across the United States. Prior to March 30, 2007, the company was known as Equity Broadcasting, a name later used for its broadcast station subsidiary. The company had a focus on Hispanic and Asian American communities in large markets while owning a combination of English-language network affiliates in medium and small markets. Equity was known for its use of broadcast automation to control dozens of small, local UHF television broadcasting stations from one central Little Rock location; the feeds were readily visible on free-to-air satellite television through much of North America, despite the very small terrestrial footprint of the individual stations over the air. Most commonly, Equity stations were low power television affiliates of Univisión, Fox, The WB/UPN or carried music videos and classic television reruns. In late 2005, Equity launched the Retro Television Network (RTN for short), a programming service with a lineup of "classic" shows from the 1950s-1980s which currently airs in part or full in numerous markets (controversially replacing UPN in one). Equity sold RTN to Luken Communications in June 2008. Equity filed for chapter 11 bankruptcy on December 8, 2008〔 and auctioned the individual stations on April 16, 2009.〔http://www.broadcastingcable.com/article/195976-Equity_Media_Sets_Auction_For_Stations.php?rssid=20065〕 Many stations were sold to broadcast companies such as Daystar Television Network. == Financial troubles == In the company's annual report for 2007, released on April 2, 2008, Equity said that the company was in default on its credit lines, and that if it could not find additional financing it "will need to cease all or a portion of its operations, seek protection under U.S. bankruptcy laws and regulations, engage in a restructuring or undertake a combination of these and other actions." An earlier indication of Equity's troubles came one month previously when its board of directors appointed its chairman, Henry Luken, to replace Equity founder Larry Morton as president and CEO.〔(RTN PARENT EQUITY MEDIA IN FINANCIAL TROUBLE, Harry A. Jessell, TVNEWSDAY, Apr 3 2008 )〕 Morton remained the chair, president and CEO of Retro Television Network. Retro Television Network was sold to Luken's company, Luken Communications, on June 25, 2008. Luken Communications continued to operate RTN out of Little Rock, Arkansas as a client of Equity's C.A.S.H. system. In June 2008, Equity instituted a companywide suspension of news programs.〔 〕 In November 2008, Equity began attempts to sell all of its TV stations〔(Equity Media unloading TV stations, TOBY MANTHEY, Arkansas Democrat-Gazette, November 4, 2008 )〕 and cut most of the company's top management〔(Clock's Ticking for Brissette at Equity, Price Colman, TVNEWSDAY, Oct 29 2008 )〕 in a move which Chief Restructuring Officer Paul Brissette believed could allow the company a chance to avoid bankruptcy. Equity filed for Chapter 11 bankruptcy on December 8, 2008 after the company defaulted on a loan worth $41.5 million. One of its creditors, Silver Point Finance, soon filed to change the bankruptcy from a voluntary Chapter 11 to an involuntary Chapter 7 in an attempt to foreclose on Equity assets, as they felt that there was no way Equity could reorganize under Chapter 11, nor did they have enough funds to cover payroll.〔(Arkansas Business: "Creditor Files to Liquidate Equity Media, Claims Company Cannot Meet Payroll Obligations", 12/10/2008. )〕 Silver Point ended its attempts to push the company directly into liquidation on December 23, in return for the appointment of Kim D. Kelly, a new Chief Restructuring Officer (CRO) who exerted near-total control to run the company and handle decisions on the sale of the individual stations.〔(Equity Media dispute resolved, Radio Business Report, December 23, 2008 )〕 Trading in Equity Media Holdings Corporation (EMDA.Q) common stock, units, and warrants were suspended on December 18, 2008; NASDAQ announced on January 15, 2009 that the Equity-related securities were de-listed permanently.〔(Delisting of Securities of Equity Media Holdings Corporation From The NASDAQ Stock Market: Globe NewsWire, MSNBC, Jan 15, 2009 )〕 The sale of Equity's flagship Little Rock TV station KWBF (now Nexstar Broadcasting Group's KARZ-TV) closed at the end of January 2009; similarly named ''RTN radio'' station KWBF-FM had also been sold (to Flinn Broadcasting Corporation) and went silent on November 2008, later returning as KZTS under its new owner. Equity had also unexpectedly terminated a deal with the Southland Conference to carry Central Arkansas University basketball games on KKYK-DT, effective January 14, 2009.〔http://www.nwanews.com/adg/Sports/249737/〕 Silver Point extended a $58 million "debtor in protection" loan on February 2, 2009 to keep Equity on-air under chief restructuring officer Kim D. Kelly, but at a hefty interest rate premium: 8% above the current London Interbank Offered Rate. The chief restructuring officer was not answerable in any way to Equity's board.〔(Equity Media Lands $58 Million Loan ), Mark Hengel, Arkansas Business, February 2, 2009〕 On April 10, 2009, Equity announced an auction of all its stations, held on April 16 in Dallas.〔 About 60 stations (counting repeater transmitters) were sold (subject to FCC approval) at a total of $21.3 million. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Equity Media Holdings」の詳細全文を読む スポンサード リンク
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