SCI Avoids Chapter 11: SCI Television Inc....
From Times Staff and Wire Reports
SCI Avoids Chapter 11: SCI Television Inc. avoided being placed under federal bankruptcy court protection after a judge in Delaware approved a last-minute change in the company’s debt revision plan, a lawyer for SCI said. The Denver-based operator of six television stations, unable to meet interest payments on its debt, has been trying to get bondholders to accept stock and securities in exchange for their $507 million in outstanding bonds.
