Kent & Spiegel declares bankruptcy, loses Sobakawa rights

Article Abstract:

Kent & Spiegel Direct (KSD) Inc., a DRTV marketing company based in Culver City, CA, has filed for Chapter 11 bankruptcy protection in May 1998, citing financial problems as the cause. The company also lost the account for an infomercial for the "Sobakawa" buckwheat-filled pillow, which generated strong revenues for the company. The bankruptcy filing follows a reorganization, which resulted in the layoff of most of its staff in April 1998, to cut cost and focus on developing a new group of infomercial products. KSD vice president of legal and business affairs, John Mitchell, noted the company is currently completing production on two beauty, one fitness and one entertainment show.

Agency Planning/Goals, Article, Kent and Spiegel Direct

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Genesis Media wins Glamour Patch infomercial

Article Abstract:

Direct response TV marketer Genesis Media Group Inc of Studio, CA, has won the bidding for the Hollywood Glamour Patch infomercial offered in a bankruptcy auction of Kent and Spiegel Direct Inc. The infomercial demonstrates a beauty-care product for reducing wrinkles, and is considered as of the most marketable assets of the bankrupt firm. The assets of Kent and Spiegel are being liquidated to raise funds to repay ite creditors.

Acquisitions & mergers, Genesis Media Group Inc.

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ATT seeks approval for restructuring plan

Article Abstract:

Bankrupt direct response television ad agency American Television Time Inc of Austin, TX, has asked its creditors to approval the restructuring plan submitted on Aug 27, 1999. The first of the restructuring plan would involve the creation of a creditors' trust that would maximize the amount paid to creditors on allowed claims. The second part would seek to complete the reverse merger of the company.

American Television Time Inc.

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