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The Honolulu Advertiser
Posted on: Wednesday, July 15, 2009

KHON owner gets bankruptcy approvals


Advertiser Staff

The parent of KHON has received approval to pay vendors, employees and other ordinary business costs while it operates under bankruptcy protection.

New Vision Television said a federal bankruptcy judge in Delaware approved the company’s first-day motions, including a request for $28 million in new financing.
New Vision filed for bankruptcy protection on Monday in a move to eliminate $400 million in debt. The company said the bankruptcy should not affect its day-to-day operations.