New Delaware Chapter 11 Filing – Fuse, LLC, et al.
Fuse, LLC, along with eight affiliates and subsidiaries (“Fuse Media”), has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-10872). Fuse Media, a multicultural media company composed principally of two cable networks, Fuse and FM, is headquartered in Glendale, CA. According to the First Day Declaration, Fuse Media has filed for chapter 11 as a result of the general headwinds facing the pay-tv industry, which led to Comcast and Verizon Fios dropping the Fuse network on December 31, 2018. Fuse Media has filed a prepackaged plan of reorganization, which is supported by approximately 82% of its senior secured noteholders, and is seeking to have a combined confirmation and disclosure statement approval hearing during the first week of June 2019. The Disclosure Statement can be found here and the Plan Supplement can be found here. Kurtzman Carson Consultants is the proposed claims and noticing agent. The cases have been assigned to the Honorable Kevin Gross.
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