A STRONGER FUSE MEDIA TO EMERGE FROM CHAPTER 11 ON SCHEDULE, AS COMPANY EYES FURTHER AUDIENCE AND ORIGINAL PROGRAMMING EXPANSION
Company Remains Dedicated to Providing Content for
Underserved Latino and Multicultural Audiences
LOS ANGELES/NEW YORK, JUNE 19, 2019 ─ Fuse Media, a cross-platform entertainment media brand for Latino and multicultural millennial and GenZ audiences, announced today that it will emerge from Chapter 11 on schedule and as a materially stronger company. In April, the company announced its plan to quickly emerge from voluntary, pre-packaged Chapter 11 protection as it sought to reduce its secured debt by approximately $200 million while significantly reducing related interest expenses. With the company’s plan being approved at a hearing yesterday in Delaware, these objectives are being met, and the company will officially exit Chapter 11 in the coming weeks.
Throughout this financial reorganization, Fuse Media has continued to grow its business. This includes premiering Fuse’s first adult animated original series, Sugar and Toys; starting production on Made From Scratch, an original new series initially developed as a short-form digital series that will premiere on the linear Fuse channel this fall; acquiring the rights to new installments of the Fuse Docs and Fuse Films franchises; and solidifying distribution of its linear and video-on-demand channels via renewals and new partnerships – including recently reaffirming its partnership with AT&T and DIRECTV, and entering into new distribution agreements.
Said Fuse Media interim CEO Miguel (“Mike”) Roggero, “I would first like to thank our employees for their hard work and dedication during this challenging period. We are also thankful for the unwavering financial support of our bondholders. Looking forward, Fuse will continue to provide content that entertains and inspires young and underserved Latino and multicultural audiences, and to collaborate with creative, brand and distribution partners who share this goal.”
According to Mr. Roggero, now that Fuse Media has strengthened its balance sheet, among the company’s goals is to continue to accelerate its investment in original programming, resulting in a 100% increase in original content on the Fuse schedule in 2020 vs. 2019, to both serve its existing audience and to continue to evolve the Fuse brand in a way that will attract and engage new viewers.
Targeting a diverse millennial and Gen Z audience, Fuse is one of the most multicultural channels on cable, as well as one of the youngest, with a median age more than 15 years below cable’s average. Fuse achieved this success through a strong slate of original programs – including the recently renewed Critics Choice Real TV Awards nominee T-Pain’s School of Business, Complex x Fuse and Big Boy’s Neighborhood – and documentaries such as Peabody Award-winning Indivisible, Daytime Emmy® Award-winning Time for Ilhan and Daytime Emmy® Award-nominated Bean. This year also saw the largest number of series renewals since Fuse re-launched in late 2015.
Additional information about Fuse’s Chapter 11 cases can be found at www.kccllc.net/fusemedia.
About Fuse Media
Fuse Media is a cross-platform entertainment media brand for Latino and multicultural millennial and GenZ audiences. The company’s platforms include the Fuse and FM (Fuse Music) linear and video-on-demand (VOD) channels; Fuse.TV online and social media properties; OTT apps; and live events. For photos and additional assets, please visit fusepress.tv.
Connect with Fuse at fuse.tv or on Facebook (facebook.com/fusetv), Instagram (@fusetv), Twitter (@fusetv) and YouTube (youtube.com/fuse).
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