CBS 42 owner clears bankruptcy


cbs42-logoNew Vision Television, owner of CBS 42 (WIAT) in Birmingham, emerged from Chapter 11 bankruptcy this month. We first reported the bankruptcy in July.

The company, based in Atlanta and Los Angeles, owns 14 stations nationwide.

“New Vision now has one of the strongest balance sheets in our sector,” Jason Elkin, CEO and founder of New Vision, said in a statement. “Being debt-free will enable us to invest in our people, our product and complementary acquisitions to drive New Vision forward, while our competitors continue to focus on daily liquidity and covenant compliance.”

New Vision made no job or benefit cuts linked to the reorganization, the company said.

Other local TV notes:

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