Saturday, April 30, 2016
Core Media Group files for bankruptcy
The company Core Media Group, the parent of American Idol and So You Think You Can Dance, has filed for Chapter 11 Bankruptcy Protection. I think what led to that is what happened four years ago, when Phillip Phillips robbed Jessica Sanchez of the title American Idol. Core Media Group was part of a joint venture that also combined Endemol and Shine to create Endemol Shine Group. However, Core Media Group continued to operate as an independent group and never integrated. It is also the parent company of 19 Entertainment and Sharp Entertainment. The bankruptcy petition is said to indicate a total ranging from $100 million to $500 million.