Company Troubles
On October 16, 2008; Douglas Johnson and this company filed for voluntary Chapter 11 Bankruptcy amid plummeting ad sales and the fact that Johnson Broadcasting owes unsecured creditors more than $3 million. Johnson Broadcasting continues to run as a debtor in possession and two TV stations remain on the air.
In October 2009, it was announced that Johnson Broadcasting may be forced to sell KLDT and KNWS to Una Vez Más Holdings, LLC. The sale of these stations to Una Vez Más was approved by the bankruptcy court on December 29, 2009 and has finally received FCC approval September 27, 2010 after the FCC rejected a petition to deny the sale made by Spanish Broadcasting System.
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