The St. Louis Post-Dispatch reports three TV stations owned by Roberts Broadcasting are being sold as part of the station group’s bankruptcy settlement.
Roberts Broadcasting, led by brothers Michael and Steve Roberts, filed for bankruptcy in St. Louis in October 2011 after racking up millions of dollars in judgments for failure to pay licensing fees. When it filed for bankruptcy, the TV operator listed debts exceeding $3 million and assets of more than $800,000.
The proceeds from the sale of the four stations will pay creditors. Read more