Pursuant to the YMF Sale Motion (Docket No. 233), the Debtors sought authorization to assume and assign certain executory contracts and unexpired leases upon consummation of the transactions contemplated by the YMF Sale Motion. On February 23, 2012 the Court entered an order (Docket No. 345) approving the YMF Sale Motion and authorizing the Debtors to enter into an asset purchase and sale agreement (the "YMF APA"). Pursuant to the YMF APA, YMF may, at any time prior to the Closing Date (as defined in the YMF APA), remove any contract from the Assigned Contracts List (as defined in the YMF APA) and may, at any time until the date that is thirty (30) days before the Closing Date, add any contract to the Assigned Contracts List. YMF has now determined to add certain executory contracts and unexpired leases to, and remove certain executory contracts and unexpired leases from, the Assigned Contracts List. Lists of the executory contracts and unexpired leases that YMF now proposes to add (the "Designated Contracts") and remove (the "Removed Contracts") can be found below.
On August 19, 2011, involuntary chapter 11 petitions (the "Involuntary Petitions") were filed against Inner City Media Corporation, ICBC Broadcast Holdings, Inc., ICBC-NY, L.L.C. , Inner City Broadcasting Corporation of Berkeley, ICBC Broadcast Holdings-CA, Inc., Urban Radio of South Carolina, L.L.C., Urban Radio of Mississippi, L.L.C., Urban Radio, L.L.C., Urban Radio I, L.L.C., Urban Radio II, L.L.C., Urban Radio III, L.L.C. and Urban Radio IV, L.L.C. (collectively, the "Debtors"). On September 7, 2011, the Debtors answered the Involuntary Petitions (the "Answer and Consent") and consented to the entry of orders for relief under Chapter 11 of the United States Bankruptcy Code (the "Chapter 11 Cases") in the United States Bankruptcy Court for the Southern District of New York. These Chapter 11 Cases have been assigned to the Honorable Shelley C. Chapman and are jointly administered under the main case, Inner City Media Corporation, case number 11-13967. Copies of the Involuntary Petitions, the Answer and Consent and the First Day Pleadings filed in these Chapter 11 Cases are available by clicking on the relevant tabs on the left side of this page.
Please continue to visit this website from time to time for updates on these Chapter 11 Cases. Please note that neither the Clerk of the Bankruptcy Court nor The Garden City Group, Inc., the claims and noticing agent, is permitted to give legal advice.