While a few broadcasters are themselves dealing with bankruptcy, pretty much all broadcasters are dealing with a growing number of advertiser and agency bankruptcies. That reality has prompted the Media Financial Management Association (MFA) to schedule a distance learning seminar this month on “The New Kind of Bankruptcy.”
“With an increasing number of bankruptcies, and the added complexity of the government’s role in the affairs of GM and other major advertisers,” MFA and its BCCA subsidiary are devoting their July Distance Learning Seminar to the bankruptcy issue.
Scheduled for Tuesday, July 21, from 3:30 to 4:45 pm ET, the teleconference will be presented by bankruptcy expert Wanda Borges, a principal/attorney at Borges & Associates. Borges will review recent bankruptcies, examine the rights of media companies, and identify the ways that credit professionals can safeguard their companies in anticipation of, and after, an advertiser or agency bankruptcy.
“Not only are our industry’s credit and collections professionals dealing with a larger number of clients in bankruptcy, they are facing new and different problems. For instance, some have argued that, in the recent GM bankruptcy, the US government ignored the property rights of secured creditors by forcing a sale,” stated MFA/BCCA President and CEO Mary Collins.
For information on the teleconference and CPE credits for participating, along with the online registration form, go to the MFM website.
RBR/TVBR observation: We know Wanda Borges only slightly, but enough to know that she is a really sharp bankruptcy attorney. This, unfortunately, is an area that every broadcaster has to deal with. And it’s better to be prepared before the notices to creditors start arriving in the mail.