Thrill Intermediate’s confirmed chapter 11 plan became effective on July 31, 2026, placing the jointly administered debtors in post-effective-date administration rather than the confirmation process. The September 2025 cases followed financial distress and senior secured debt pressures at a television-production and live-entertainment group whose programming and licensing arrangements were operated during the case under consensual cash-collateral authority with an ad hoc group of first-lien lenders. The confirmed plan is styled as a joint plan of reorganization and liquidation.