November 26, 2018 / 10:03 PM / 23 days ago

Spanish-language broadcaster LBI seeks 'expedited' bankruptcy

LBI Media, the owner of the Spanish-language EstrellaTV broadcast network and several Spanish-language television and radio stations, aims to have a plan to emerge from bankruptcy approved by March 7, according to court papers filed on Friday.

The privately held company sought Chapter 11 protection in U.S. Bankruptcy Court in Delaware on Wednesday after reaching an agreement with its senior lender to cut its debt by more than $350 million.

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