Luken took a licking but now it’s ticking
The company’s plan to resolve all issues on claims and payments due was approved by the U.S. Bankruptcy Court for the Eastern District of Tennessee at Chattanooga.
David Leach, President and CEO of Luken Communications, says, “We have been very fortunate to have vendors and affiliates that have stuck by us while we resolved what Luken viewed as an unjust verdict.” Leach added, “We appreciate the support of our affiliates, vendors and employees during this difficult time and look forward to continuing exceptional growth.”
During 15 months under the umbrella of Chapter 11 protection, the company was able to address its financial imbalance in a number of ways, including:
* streamlined operations
* more affiliate stations
* improved signal strength
* added delivery methods
* upgraded programming
* improved vendor relations
Luken’s network properties include Retro TV, The Heartland Network, The Family Channel, TUFF TV, PBJ and Frost Great Outdoors (FGO).