Estrella Media (formerly known as Liberman Broadcasting, Inc. from 1987 to October 14, 2019 and LBI Media, Inc. from October 15, 2019 until February 2, 2020) is an American media company based in Burbank, California, owned by private equity firm HPS Investment Partners, LLC. As part of the corporate reorganization, co-founder/CEO Lenard Liberman divested his equity in LBI, and was replaced as the company's CEO by former Granite Broadcasting and Communications Corporation of America Chairman Peter Markham. Burdened with $530 million in debt, LBI Media Inc. and 17 of its affiliates and subsidiaries today filed for Chapter 11 relief in the Bankruptcy Court for the District of Delaware, announcing plans for a company reorganization. In a lawsuit filed in L.A. Superior Court, she alleged that Andres Angulo, Estrellas vice president of news, had been sexually harassing her for years. ALL RIGHTS RESERVED. Im an expert in the Hispanic media industry. If it was, she would take the back staircase to avoid passing by him. Im an expert in the Hispanic media industry. LBI has a heavy debt load: it owes $233 million in principal on the first-lien notes and $262 million on second-lien notes. Adam R Jacobson is a veteran radio industry journalist and advertising industry analyst with general, multicultural and Hispanic market expertise. May not be copied or duplicated without express written permission. On this Wikipedia the language links are at the top of the page across from the article title. People were afraid to complain because they didnt want to lose their jobs.. Isn't that the issue? The scandal bore a striking resemblance to the one at Fox News, which exploded around the same time, when former anchor Gretchen Carlson filed a sexual harassment suit against the networks influential CEO, Roger Ailes. In a release issued by LBI late in the afternoon, the company acknowledged it is pursuing a financial restructuring in order to implement an agreement with 100% of the Companys senior lenders to reduce LBIs debt by more than $350 million.. ", "LBI Media, Inc. Reports Fourth Quarter and Full Year 2008 Results", "Denver's TV market to get new Latino station", "EMF Buys Dallas-Fort Worth FM From Liberman", "Anchor Sues Estrella TV And News VP Andrs Angulo For Firing Her After Reporting Sexual Harassment", "Sex, Lies And Audiotape: Another Anchor Filed Sexual Harassment Suit Against Estrella TV And News VP", "LBI Media Exits Bankruptcy; Founder Lenard Liberman Out, Peter Markham Named CEO Of EstrellaTV Parent", "LBI Media Announces Successful Completion of Reorganization Plan", "Liberman Broadcasting Emerges from Chapter 11", "After Bankruptcy, LBI Adopts Estrella Media Name", https://en.wikipedia.org/w/index.php?title=Estrella_Media&oldid=1137722981, Broadcasting companies of the United States, Television broadcasting companies of the United States, Spanish-language broadcasting in the United States, Spanish-language mass media in California, Oaktree Capital Management media holdings, Radio broadcasting companies of the United States, Companies that filed for Chapter 11 bankruptcy in 2018, Articles with dead external links from December 2017, Articles with permanently dead external links, Short description is different from Wikidata, Incomplete film, television, or video lists, Official website different in Wikidata and Wikipedia, Creative Commons Attribution-ShareAlike License 3.0, Jos and Lenard Liberman, Miguel Banojian, This page was last edited on 6 February 2023, at 03:25. (Gratas died in 2015. The producer, Aitana Vargas, accused Gratas of sexually objectifying her and other women. Liberman Broadcasting refused to make executives available for interviews, and declined to comment on specific allegations. Peter Markham takes over the reins of Estrella TV parent company LBIeffective today, although he stepped in as interim COO at the Burbank, CA headquarters for the past two months. He showed her nude photos of her female co-workers, and repeatedly begged her for sex. I think that if I bought billboards in Tijuana and Juarez and Matamoros and said, come to L.A. and watch Channel 62 and, by the way, you can get all these great jobs and free food, that would be something controversial to promote illegal immigration. Amezola took her complaints to human resources. or redistributed. In the First Day Declaration, Chief Financial Officer Brian Kei stated that LBI obtained a new first lien financing from HPS for additional liquidity and an extension of the maturity of the Debtors first lien debt, challenged by the second lien noteholders who commenced multiple lawsuits, and threatened several more, distracting management from operations, which risked pushing LBI into a precipitous freefall bankruptcy., The Caspian Capital group sued to stop LBIs plans to restructure its debt in an out-of-court deal with senior lender HPS. Four current and former employees said the company conducted a harassment investigation, interviewing numerous women, after which it was announced that Angulo would depart. LBI Media owns 10 TV stations, 17 radio stations and operates Estrella TV. Importantly, this is a financial restructuring. But how can a board based in L.A., promoting itself to 2.68 million documenting Hispanics living in L.A., be promoting illegal immigration? CAVUTO: And what's going in the new ones? In an email sent to staff earlier in the day, Liberman assured employees that the daily business operations would continue as usual as it undergoes a financial restructuring, and that the company procured financing that will provide us sufficient liquidity to allow us to navigate the process., In his email, Liberman stated he expects there will be no impact on employee wages, salaries or benefits and stressed LBI is not going out of business.. CAVUTO: Lenard Liberman, thank you for this. One day, she says, Angulo told her to meet him at a restaurant after her show to discuss it. In late August, RBR+TVBR first reported on the reemergence of a Hispanic media company founder who lost. On October 15, 2019, Liberman Broadcasting completed its reorganization plan, turning over ownership of the companywhich was formally renamed LBI Media, Inc.to its first lien lender, private equity firm HPS Investment Partners, LLC, which sponsored the reorganization plan; the reorganization eliminated more than $350 million of debt from its balance sheet. Markets never sleep, and neither does Bloomberg. [14] The sale was closed on December 6. Lenard's personal network of family, friends, associates & neighbors include Rinat Liberman, Elias Pollock, Jose Liberman, Elaine Doran and Sarah Liberman. LIBERMAN: Well, it's true. 8/28/2019: Miscellaneous - express waiver of conflict re; hon judge roy paul, 7/16/2020: RFO/MTN - Family Law - RE: Issue, Evidence and Monetary Sanctions to be heard at Signature Resolution, 7/22/2020: Stipulation and Order - No Fee - RE: Distribution of funds Signed by Hon. The California-based LBI Media had been struggling for months as it sought financing to continue operations and avoid bankruptcy. That spinoff deal, brokered by Kalil & Co., has now closed. - 1956; M.A. Roy Paul (Ret. She no longer works in the industry. LBI Media has a strict policy against harassment, says spokesman Marco Gonzlez. He was born in Elizabeth and had lived in West Orange, Short Hills, and Secaucus before moving to Hoboken 20 years ago. Rather than fight a legal battle, some reporters left as soon as they could. The producer is still with the station. [1] Contents 1 Early life and education 2 Career 3 Bibliography 4 Notes 5 References Early life and education [ edit] [1], Lieberman was educated at the University of California, Berkeley (B.A. LBI first lien lender HPS Investment Partners, LLC, which sponsored the reorganization plan, now owns 100% of LBI Media. Bloomberg Daybreak Asia. NEIL CAVUTO, HOST: Take a look at this billboard. So instead of turning him down flat, she deflected, suggesting they get dinner instead. This is a partial transcript from "Your World with Neil Cavuto," May 6, 2005, that was edited for clarity. In 1963 Mr. Lieberman left the practice of law to become vice president and general counsel of Supermarkets Operating . No license is granted to the user of this material except for the user's personal or internal use and, in such case, only one copy may be printed, nor shall user use any material for commercial purposes or in any fashion that may infringe upon Fox News Network, L.L.C. 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According to one executive, who viewed Angulo favorably, Angulo was seen as a skilled newsman. FCC Form 603 Page 2 12609759.1 upon by the Commission in connection with the pro forma transfer of control of each of The lawsuits were resolved in a confidential settlement, according to Richard Lloyd Sherman, who was Libermans attorney. I think I have the carrot, but I can never get it.. CAVUTO: You knew what you were getting into when you did this, right? LBI Media founderLenard Liberman,for a song, was snagging required divestitures tied to the arrangement that gave majority ownership of Univision Communications to private investment firm SearchLight Capital PartnersandForgeLight,an operating and investment company focused on media and consumer technology. After filing a complaint to Estrella/KRCA human resources, Angulo and Estrella TV management retaliated against employees who "contributed damaging information, removing her as 5:00p.m. anchor at KRCA (while retaining her as 11:00p.m. anchor) without cause and undertaking measures against employees who came forward as witnesses to Amezola's claims. Carlsons claims, and harassment allegations by other women, led to the forced resignation of Ailes within weeks.
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