RHI Entertainment, the made-for-TV movie developer/producer/distributor that filed for Chapter 11 in December, had its reorganization plan approved today in U.S. Bankruptcy Court. The company will emerge with its debt obligation reduced by more than $400 million; the rest will be paid to lien holders via newly issued stock among other arrangements. “This is a great day for RHI,” company CEO Robert Halmi Jr. said. RHI, which has more than 1000 titles in its library, hasn’t been quiet despite its financial troubles: It said it has commenced production on three miniseries — Neverland, Treasure Island and Blackout— and produced two-hour TV movies for networks including Syfy and Hallmark.
RHI Reorganization Plan Is Approved
What's Hot on Deadline
Julia Roberts, Jennifer Aniston, Kate Hudson, Jason Sudeikis Anchor Garry Marshall's 'Mother's Day' Package