New Vision emerges from bankruptcy, controls 3 areas stations

The Los Angeles company that controls three area television stations has emerged from bankruptcy protection.

New Vision Television said it has completed its restructuring by providing stock in the company to creditors that had loaned it money.

The creditors also will gain representation on the board of directors, but Jason Elkin will remain chairman and chief executive.

Locally, New Vision owns WKBN-TV and WYFX, both of Boardman, and operates WYTV of Youngstown under an agreement with another Los Angeles-based company.

For more details, see Saturday’s Vindicator or www.vindy.com.