Broadcaster RNN Strikes Deal to Acquire iMedia Out of Bankruptcy

An affiliate of independent broadcaster RNN Media Group has entered into an agreement to acquire television shopping channel owner iMedia Brands Inc. out of bankruptcy, an iMedia lawyer said Wednesday.

• iMedia lawyer Ryan Preston Dahl said during a Delaware bankruptcy hearing that the company’s agreement with RNN-TV Licensing Co. is subject to better offers should any materialize in the coming weeks
  • Financial terms of the asset purchase agreement were not discussed at Wednesday’s hearing
• The deal ensures iMedia will survive Chapter 11, preserving the jobs of roughly 600 US employees, Dahl said
• RNN is also providing iMedia with a portion ...