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Equity Media Loses $40.7 Million, could file for bankruptcy

April 3, 2008 by Veronica Villafañe

Equity Media Holdings Corp., the second-largest affiliate group of the Univision and TeleFutura networks, is in big trouble.

In an SEC filing on Tuesday, Equity reported a net loss of $ 40. 7 million in 2007, compared to $3. 2 million the year before. The company also had a drop in its broadcast revenue to $ 28. 3 million from $ 30. 4 million in 2007.

According to Arkansasbusiness.com, the Little Rock-based publicly-traded company, which has 121 television stations, licenses and permits, does not have enough cash to operate and is considering filing for bankruptcy protection.

Equity reported $25.3 million in assets, but $84 million in current liabilities as well as an additional $13.7 million in with long-term liabilities.

Univision owns approximately 8% of Equity Media, with which it has a 15–year affiliation agreement.

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Filed Under: TV & Radio

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Veronica Villafañe, Editor & Publisher

Emmy award-winning journalist and former president of the National Association of Hispanic Journalists (NAHJ). Currently a reporter for Voice of America, she has worked as an on-air reporter, anchor, writer and producer for Spanish and English-language TV, print and online media, including Univision, Telemundo, Fox 11 News in L.A. and the San Jose Mercury News.

Hispanic media and entertainment contributor to Forbes.

Full bio here

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