Multimedia Platform Chile achieves successful judicial reorganization

Carey - Plataforma Multimedia Chile (formerly CNN Chile) on the approval for its judicial reorganization proceeding under Chilean Law No. 20,720, restructuring liabilities for approx. US$5.4 million. Plataforma Multimedia focuses on the creation, development, and production of news content. It operates a news dedicated television channel under the name of CNN Chile, licensed from the international network of the same name, part of Warner Bros. Discovery, one of the world’s leading media companies, listed on the New York Stock Exchange.

This advice represents an uncommon success case in the challenging media sector, achieved through a swift and creative six-month restructuring process. The plan included innovative features such as payment through advertising space, a significant reduction in operational costs, and a release clause allowing the termination of the reorganization agreement upon payment of 20% of the debt. This enabled the continued operation of a prominent news channel, in contrast to other industry players currently facing insolvency. 

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