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Friday, March 19, 2010

Simmons-Cafaro site files for bankruptcy

NO GOOD, THE BAD & THE UGLY: No Good TV, backed by entertainment industry veterans including company Chairman Gene Simmons and former A&M topper Al Cafaro, filed for bankruptcy on Feb. 25. Company exec Kourosh Taj confirmed the news to digitalmediawire on Thursday in an email: “NGTV filed for chapter 11 protection primarily to implement a reorganization plan with the cooperation and consent of our senior secured lenders.” NGTV, which is targeted at the 18-34 demo, describes itself on the website as “the world's largest producer of uncensored celebrity news and entertainment programming.” The Beverly Hills-based company claims to be the third most-watched YouTube partner, with 445 millions views and counting. (3/19a)

 
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