Broadcasting & Cable
Global Broadcasting of New England has filed a Receivership Petition in Rhode Island Superior Court to give its struggling WLNE Providence some financial leeway in an unforgiving business environment. The receivership may be the first step toward the sale of the station.
WLNE is an ABC affiliate and Global Broadcasting’s lone station. Providence was hit particularly hard with the recession, with crippling unemployment. Massive flooding this past spring deepened the misery in DMA No. 53.
The receivership “gives a financially stressed business breathing room to restructure and reorganize its financial and business affairs” More…