Fuse Media missed a deadline to make a bond payment in the aftermath of struggles with Comcast, Verizon and DirecTV
Fuse Media Inc., a cable company whose investors include Jennifer Lopez, filed for bankruptcy reorganization after missing a deadline to make a bond interest payment in the aftermath of struggles with Comcast, Verizon and DirecTV.
The Glendale, Calif.-based company, which made its chapter 11 filing Monday in U.S. Bankruptcy Court in Wilmington, Del., plans to allow bondholders to swap their $242 million in senior secured debt for equity in the reorganized business. The bondholders also will provide a new $45 million secured...
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