The FCC has rejected Larry Wilson and Paul Stone’s petitions to deny and has approved the Chapter 11 bankruptcy restructuring of Alpha Media conditioned upon the filing of a petition for declaratory ruling within 30 days of closing on the transaction described therein, would serve the public interest.
Alpha had filed for Chapter 11 protection in January. The restructured Alpha Media USA will be a wholly-owned subsidiary of New Alpha. amilton Lane Incorporated and its subsidiaries will be the largest shareholder of the company controlling 49% of the equity and voting interests. MetLife Inc. will control 43.7% of the equity and voting interests, while Intermediate Capital Group PLC’s will hold 5.8% of Alpha. Approximately 22% of the company’s equity and 14% of voting interests will be foreign controlled.