client_transactions

SSG Client Transactions

Title

Reading Broadcasting, Inc.
Client Profile

Client Profile

Reading Broadcasting, Inc. ('RBI' or the 'Company') owns and operates the full-power commercial independent television station WTVE Channel 51 (Analog), and Channel 25 (Digital). RBI was founded in 1976 and commenced broadcast operations in May of 1980.
Situation

Situation

Due to technological shifts in the broadcasting industry, RBI filed for protection under Chapter 11 of the U.S. Bankruptcy Code on October 7, 2005. SSG was retained by the Trustee in March 2006 as the exclusive financial advisor to explore strategic alternatives for RBI, including, but not limited to, the sale of RBI's business and substantially all of its assets.
Solution

Solution

RBI and SSG moved quickly to explore strategic alternatives, including a sale or refinancing of the Company. After conducting a broad sale process and negotiating with several strategic and financial partners, SSG and RBI concluded that the greatest value for RBI's stakeholders would be achieved by a sale of its assets to an affiliate of the Regional News Network. The sale transaction closed in June.
June 2008
has sold substantially all of its
assets to an affiliate of
The undersigned acted as Investment Banker to Reading Broadcasting, Inc. on this transaction.

Call to learn more

Call to learn more

If you would like to learn more about this transaction, or any of our transactions, call us today.

Philadelphia
(610) 940-1094

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New York
(212) 786-7432

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