Media mogul Byron Allen’s Entertainment Studios Networks Inc. plans to submit an $11 million bid to buy Black News Channel LLC’s television assets in a bankruptcy auction.
The stalking horse bid, revealed in Black News Channel’s (BNC) court filing June 24, comes after the company’s deal to sell the assets to Ebony Studios LLC fell through. Ebony Studios is a media company associated with Ebony magazine and former NBA player owner Ulysses Lee “Junior” Bridgeman.
U.S. Bankruptcy Judge Karen Specie plans to hold a hearing Wednesday to consider BNC’s request for her approval of the stalking horse bid.
BNC, a ...