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Media, sports & entertainment coverage - ElevenFlo

Media, sports & entertainment coverage

36 articles

Week of May 4, 2026

McClatchy: Pension Distress Termination, Chatham 363 Sale, and End of Family Control

McClatchy filed chapter 11 in SDNY on Feb. 13, 2020, with $703M in funded debt and an $805M underfunded pension. The PBGC terminated the pension covering 24,000+ participants; Chatham acquired substantially all assets via a $312M 363 sale, ending 163 years of McClatchy family control.

Week of March 23, 2026

Grand Slam Track: Winners Alliance Plan Offers Athletes 70% Recovery

Grand Slam Track filed chapter 11 after $40M investor pullout. Athletes owed $7M as Johnson's pro track league collapses with $31M debt.

IPIC Theaters: Subchapter V Liquidation of Premium Theater Chain

IPIC Theaters filed subchapter V chapter 11 in S.D. Fla. on February 25, 2026, to liquidate its 13 leased theater locations. The company reported $112.5M in 2025 gross income and a $19.4M net loss, with ~$113.9M in total liabilities dominated by lease obligations and near-zero funded secured debt.

Week of March 16, 2026

Baker & Taylor Files Chapter 11 to Wind Down After ReaderLink Deal Collapses

Baker & Taylor filed chapter 11 in New Jersey on March 16, 2026 after CIT tightened liquidity, a failed ReaderLink sale, and a yearlong wind-down left mostly lease and unsecured claims for the court to manage.

Glenwood Caverns: Mountaintop Theme Park Files Chapter 11 After $119.8 Million Wrongful Death Judgment

Glenwood Caverns Adventure Park, America's only mountaintop theme park, filed chapter 11 in Delaware after a $119.8 million wrongful death judgment from a 2021 ride fatality dwarfed the park's $14 million in total assets.

Troika Media Group: Blue Torch Sale and Liquidation

Troika Media Group filed chapter 11 in SDNY on December 7, 2023 after Converge acquisition debt and escrow disputes triggered a liquidity crisis. The case moved through a Blue Torch-controlled 363 sale, settlement of a $29.1 million escrow fight, and a liquidation plan effective March 29, 2024.

Mountain Sports LLC: EMS and Bob's Stores Liquidation

Mountain Sports LLC filed chapter 11 in Delaware after PNC cut off funding, sold Eastern Mountain Sports and Bob's Stores assets to Mountain Warehouse, and is now pursuing a liquidating plan that projects low single-digit unsecured recoveries.

Digital Media Solutions Completes $95M Credit Bid Sale

Digital Media Solutions completed a $95M lender credit-bid sale after its 2024 chapter 11 filing; BlackRock-led investors acquired the core business.

Hawthorne Race Course: 363 Sale and License Preservation

Hawthorne Race Course's chapter 11 case centers on a section 363 sale, disputed DIP financing, and preserving the racing and gaming licenses that support going-concern value in Illinois.

Week of March 9, 2026

Metropolitan Theatres: Century-Old Cinema Chain Restructures Through Subchapter V

Metropolitan Theatres Corporation, a four-generation Corwin family cinema chain founded in 1923, filed Subchapter V in C.D. Cal. to restructure above-market leases. The plan confirmed March 2025 with 97.7% creditor support; the family retained equity and emerged operating 11 theatres.

Week of March 2, 2026

Thrill Intermediate LLC: Ridiculousness Control Fight and Cash Collateral Dispute

Thrill Intermediate LLC filed chapter 11 in Nevada after a lender control fight over the Thrill One platform. The case centers on cash collateral, the Ridiculousness production chain, and Gorilla Flicks' effort to resume direct payments under its executive producer agreement.

Cumulus Media: Second Bankruptcy Filing Proposes $592 Million Deleveraging Through Prepackaged Plan

Cumulus Media's second bankruptcy centers on a Houston prepackaged chapter 11 plan that would cut about million of debt, keep general unsecured creditors unimpaired, and transfer ownership to lender groups.

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