Another one bites the dust? New Vision Television filed for Chapter 11 on Tuesday as it tries to restructure $400 million in debt. In the first days of the proceedings the company was able to secure a $28 million credit line to speed it through the process.
The Atlanta-based company, formed in 1993, owns and/or operates 14 full-power affiliates, 4 non-affiliate stations and has close to 800 employees.