The privately held Connecticut-based company is best known for its overseas sales of TV series including Inside The Actors Studio, Live From Lincoln Center, and Forensic Files — and bills itself as one of the first firms to specialize in cable programming distribution. But CABLEready filed for Chapter 11 bankruptcy protection today in Bridgeport after it failed to find a buyer. CABLEready CEO Gary Lico attributes his company’s financial problems to “industry consolidation, mergers and acquisitions of production companies, larger competitors paying higher and higher advances for programming or networks retaining all rights, and the uncertain global economy squeezing companies like ours.” He says that CABLEready, founded in 1992, made “significant changes to the organization” even as it “maintained the industry leading level of service while assuring high integrity and a fun atmosphere.” Lico adds that it will continue to distribute programs and develop original concepts while it explores its options. “We are convinced that through the Chapter 11 process, like so many companies before us, CABLEready can be restored to financial health,” Lico says. “We’ve never ever been quitters as our friends and clients know.”
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