The Region - News from Feb. 1, 1985

CommuniCom, Los Angeles’ largest cable television franchise holder, became the nation’s first major urban cable system to file for protection under bankruptcy laws. Insisting that the filing would not affect its 47,500 customers, the company attributed the bankruptcy to the collapse in December of a $200-million sales agreement with a Denver-based cable operator. One of the country’s largest cable franchises, CommuniCom filed for protection from about 240 creditors. The filing, under Chapter 11 of the U.S. Bankruptcy Code, will allow the company to continue operating under current management while it attempts to restructure its debt of more than $165 million. The filing was made in Los Angeles federal Bankruptcy Court.