Posts

Showing posts with the label Latinx-owned Media

HPS Takeover at Liberman Broadcasting Worries Long-time Staff

By Abel M. Salas In a letter to Federal Communications Commission Secretary Marlene Dortch and dated August 27 th , a group of “concerned employees” at Liberman Broadcasting, Inc. (LBI) have asked the head of the FCC to exercise care and judiciousness before moving ahead with a transfer of the Spanish-language media company’s multiple broadcast licenses to HPS Investment Partners, a global financial asset management group. Under the terms of a debt restructuring arrangement approved by the Delaware U.S. Bankruptcy Court on April 17, LBI was declared Debtor in Possession and agreed to cede lender and primary lienholder HPS ownership and control of Liberman's media properties as well as 100% of all new equity generated by what was previously a privately held concern. The letter, as well as a number of supporting documents delivered anonymously to the offices of Brooklyn & Boyle appear to confirm what many in the Hispanic community had feared in the wake of news tha...