Reports are now beginning to trickle in regarding the financial collapse of Window Media. ProjectQAtlanta has gotten the first look at bankruptcy filings by Window Media and Unite Media (the media unit of Avalon Equity Partners, the owners of Window Media) and the initial list of creditors shows the companies owes over $1 million in payroll and other taxes and more than $400,000 to printers.
The filings, in a federal bankruptcy court in Atlanta, show pages of unsecured and secured creditors, including employees, freelancers, vendors, and shareholders. Before any of those people get paid, the Avalon Equity and M&T Bank will be first to get paid under the Chapter 7 bankruptcy.
The filings come as news that the original owners of Southern Voice are raising money to start a new publication. Laura Douglas-Brown and Chris Cash launched SaveSoVo.com and announced a $12,000 grant from an Atlanta foundation to resurrect a publication (the name Southern Voice, as well as Washington Blade and other Window Media publications are caught up as assets in the bankruptcy proceedings).