NATPE to File for Chapter 11 Bankruptcy
The National Association of Television Program Executives plans to file for Chapter 11 bankruptcy, the group said Monday. It said COVID-19 prevented it from holding events that are significant revenue generators. "These cancellations forced NATPE to operate on its financial…
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reserves, which now require it to reorganize the NATPE business structure," it said. It said the pandemic forced it to cancel its flagship Conference and Marketplace events in 2021 and 2022, but it doesn't intend to cancel its 2023 in-person events. NATPE said it's "looking at all possible options to restructure, including raising funds through strategic alliances," and will continue to operate "as a more streamlined and reorganized operation." It said it's "optimistic that it will emerge from the reorganization process in the same position."