Latino and multicultural youth-oriented programmer Fuse Media said it is expected to emerge from Chapter 11 bankruptcy protection in the next few weeks, after a federal court approved the programmer's exit plan June 18.
Fuse Media, which targets young millennial Latinos through its Fuse TV and FM (Fuse Music) linear cable and video-on-demand channels, online properties including Fuse.tv and OTT apps, social media and live events, filed for Chapter 11 bankruptcy protection in April in the U.S. Bankruptcy Court for the District of Delaware.
At the time, the company said it had also filed a reorganization plan that would reduce its debt by about $200 million and allow it to emerge from bankruptcy some time in the second quarter. In a press release June 19, Fuse said the court approved its plan at a June 18 hearing and that it “will officially exit Chapter 11 in the coming weeks.”
In a press release, Fuse Media said it has renewed carriage agreements with AT&T and DirecTV and most recently renewed a deal with T-Mobile, which will keep its Fuse TV and FM linear programming on TVision Home, the wireless carrier’s upgraded version of Layer3 TV which will be available later this year in about eight markets.
Fuse Media interim CEO Miguel "Mike" Roggero added that the programmer will continue to increase its spending on original content.
"Looking forward, Fuse will continue to provide content that entertains and inspires young and underserved Latino and multicultural audiences, and to collaborate with creative, brand and distribution partners who share this goal,” Roggero said in the release.