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Former NBA player Junior Bridgeman to buy bankrupt Ebony for $14 million
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Former Bucks star Junior Bridgeman to buy bankrupt Ebony for $14M
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East Chicago native Junior Bridgeman to buy bankrupt Ebony for $14M
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Ebony Media Creditor s Ch. 11 Bid Restricted Amid Board Row
Law360 (December 11, 2020, 10:37 PM EST) A Texas bankruptcy judge Friday sent a creditor of the owner of long-running Black cultural magazines Ebony and Jet to the company s auction with a limited ability to credit bid due to its involvement in a settlement that led to the ouster of Ebony s board.
After a remote hearing, U.S. Bankruptcy Judge David Jones said Parkview Capital Credit Inc. will only be able to put up $13 million of the $14.1 million it claims Ebony Media Operations owes at the company s upcoming Chapter 11 auction as a consequence of a deal it struck with members of the publisher s board that blocked.