Equity Media gets three-month exclusivity extension to complete sales

By Jennifer Lanning Drey

Portland, Ore., June 17 - Equity Media Holdings Corp. obtained a three-month extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Wednesday filing with the U.S. Bankruptcy Court for the Eastern District of Arkansas.

The exclusive plan-filing period was extended to Sept. 16 from June 16 and the solicitation period to Nov. 16 from Aug. 14.

When requesting the extension, Equity Media said it needed more time to complete the sales of its remaining television stations and to formulate an exit strategy from Chapter 11.

Equity Media, based in Little Rock, Ark., owns and operates television stations. The company filed for bankruptcy on Dec. 8, 2008, and its Chapter 11 case number is 08-17646.

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