In an email sent out this morning, Patricia Torres-Burd, the company’s VP of Programming and Branding wrote:
“The Board of Directors of LAT-TV determined on May 6, 2008 that because of the company’s inability to secure a source of ongoing funding to continue operations, it was necessary stop broadcasting operations accordingly and to proceed with a company shutdown. Tapes and masters are being returned to all distribution and production houses this week.”
LAT-TV launched operations on May of 2006 with 5 stations in Houston, Austin, Dallas, San Antonio and Phoenix. Of those, only Houston and Phoenix were O&O’s. Their business plan called for expansion in the top 50 Hispanic markets within its first 4 years.
With barely 2 years under their belt, LAT-TV had managed to expand its coverage to 31 stations in 25 markets, thanks to a partnership with Equity Media Holdings in May of 2007.