Sunday, November 29, 2009

Window, Unite Media Owes Over $15M to Creditors « The NLGJA Blog

Window, Unite Media Owes Over $15M to Creditors « The NLGJA Blog:
"Reports are now beginning to trickle in regarding the financial collapse of Window Media. ProjectQAtlanta has gotten the first look at bankruptcy filings by Window Media and Unite Media (the media unit of Avalon Equity Partners, the owners of Window Media) and the initial list of creditors shows the companies owes over $1 million in payroll and other taxes and more than $400,000 to printers.

The filings, in a federal bankruptcy court in Atlanta, show pages of unsecured and secured creditors, including employees, freelancers, vendors, and shareholders. Before any of those people get paid, the Avalon Equity and M&T Bank will be first to get paid under the Chapter 7 bankruptcy."

I'm hoping the Voice can make a comeback, as the Blade (both Washington and South Florida) and 411 Magazine staffs have been relatively successful at keeping everything running without interruption, under new names.

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