NAPTE to File Chapter 11

The National Association of Television Program Executives says that they are going to file Chapter 11 bankruptcy and are blaming the pandemic as the reason.

NAPTE said, “like many other professional organizations, has been adversely impacted by the COVID pandemic, which prevented NATPE from holding events, which typically generate significant revenue. These cancellations forced NATPE to operate on its financial reserves, which now require it to reorganize the NATPE business structure.”

Adding that they are, “looking at all possible options to restructure, including raising funds through strategic alliances, and continue to operate NATPE as a more streamlined and reorganized operation.

With so many ways for companies to distribute and market content, I think the NAPTE business model might be a bit antiquated.

Just saying…