Pappas Files Bankruptcy, Blames CW

May 12, 2008  •  Post A Comment

Pappas Telecasting, the largest U.S. privately owned commercial-broadcasting operator, filed for Chapter 11, largely blaming the CW’s low ratings for its financial challenges, MarketWatch reports, citing Dow Jones Newswires. Pappas, which owns CW affiliates among its 30 TV stations, has $536 million in debt and $460 million in assets, MarketWatch says, citing Dow Jones.
–Danny King

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