Got this from Newsblues; since its a paid site, I'll run the story for you to view...
Kevin O'Brien's Global Broadcasting of Southern New England LLC, the parent company of WLNE-6-ABC in Providence (Market #53), yesterday filed for receivership, the state’s version of bankruptcy.
The station will continue to operate in a “business as usual” manner while the court tries to "stabilize" Global's finances. “We are almost certain WLNE will not close,” said Allan Shine, an attorney for the station. He expects WLNE, which has 88 employees (including Kevin O'Brien's daughter, Shannon), to be sold at a later date.
O'Brien, the former president of Meredith Corporation's Broadcasting Group, bought the station in 2007, with partner Robinson Ewert, from Freedom Communications Inc. for $14 million. Ewert left the company last year.
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