Pappas Telecasting files for bankruptcy - El Paso Times

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Pappas Television Inc., proprietor of KDBC-Channel Four in Elevation Paso and the largestprivately held commercial broadcast operator in the U.S., filed for Chapter 11 bankruptcy on Saturday and programs to sell its 30 telecasting stations under bankruptcy tribunal protection, MarketWatch reported.

Pappas cited "the extremely hard concern clime for telecasting stations across the country" in document filed with the U.S. Bankruptcy Court in Wilmington, Del. The Fresno, Calif., company reported in tribunal filings that it have more than than $536 million in debt and $460 million in assets.

Pappas-owned TV stations are affiliated with a figure of broadcasters, and include two of the nation's top-ranked Fox affiliates, KPMH of Fresno, and KPTM in Omaha, Neb. KDBC is Elevation Paso's CBS affiliate.

Ed Shugert

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