Transit Television Network to be Liquidated
Today’s Moment of Zen:
Transit Television Network, which is owned by Toronto-based Torstar Corporation, and which operates video screens inside public transit vehicles in Atlanta (photo, above), Los Angeles, Chicago, Orlando and Milwaukee, has decided to cease operations. Rather than filing for Chapter 11 bankruptcy, which would allow Transit TV to continue to operate under the possession of its creditors, they have decided to file Chapter 7 bankruptcy, which results in the liquidiation of the company’s assets. This was due to the difficulty in finding debtor-in-possession financing to keep the company going.
February 8th, 2009 at 2:14 am
good riddance. Those TVs on the buses are annoying!
February 8th, 2009 at 4:03 pm
Thank God.
February 17th, 2009 at 3:06 am
just means another company will come and pick up all the assets for cheap, and have the chance to start a far more profitable company.
can’t wait for more ads!
June 9th, 2009 at 6:09 am
the picture is for the Marta trains which is NOT Transit TV. Transit TV was only on the buses. The Marta trains had a system by CBS. Transit TV was liquidated and will not rise from the ashes in Atlanta.
You are correct. That photo is a CBS screen that will stay. -Rami