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Ebony Owner Eyeing Bankruptcy Bid for Black News Channel

May 27, 2022, 6:17 PM

Ebony Studios LLC, a media company associated with former NBA player and Ebony magazine owner Ulysses Lee “Junior” Bridgeman, is nearing a deal to buy television network Black News Channel LLC out of bankruptcy.

Black News Channel received permission Friday from U.S. Bankruptcy Judge Karen Specie to have until June 3 to finish negotiations and come to an agreement to designate Ebony Studios as the stalking horse bidder for most of the television network’s assets.

A potential bid price for the network’s assets wasn’t disclosed. But the network told the Northern District of Florida bankruptcy court in its emergency motion ...