which shut down operations on Friday, just two years after making a splashy debut — has filed for Chapter 11 bankruptcy in Florida.
In its Monday filing, the Tallahassee-based network listed $10 million-$50 million in liabilities, and estimated between 200 and 999 creditors are owed money.“They filed for bankruptcy faster than they paid their employees the money they’re owed,” one former employee told TheWrap on Tuesday. “I received a partial payment this morning for two weeks of work.
They still owe me for another week.”That former staffer was one of roughly 230 who were let go last Friday when the channel ceased operations; the network plans to air repeats for the rest of this month.The channel, known to viewers as BNC, was founded by former GOP congressman J.C.
Watts and veteran broadcast executive Bob Brillante with a mission to provide news for and about underserved communities. Just months after the launch in February 2020, Brillante was ousted and Princell Hair joined BNC as CEO in the fall of 2020.
Read more on thewrap.com
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