On July 3rd iMedia Brands/SHOP HQ filed an Asset Purchase Agreement (APA) with the Bankruptcy Court.
The purchaser is expected to be RNN-TV, the owner of 11 independent television stations, most of which already carry SHOP HQ. Stations include WRNN in the NYC region, others in LA, Dallas, DC, Philadelphia. The price is about $27.5 million.
A hearing date is scheduled for July 27th and a closing on August 5th if the APA is Court approved.
Operations could continue in some form.
