Plum TV sells to investor group

Plum TV, a cable funnel targeted at wealthy audiences in vacation 'hang-outs', declared personal bankruptcy Tuesday included in a purchase of their assets. The network is going to be bought by several traders including former Univision leader Terry Mackin and former Titan Worldwide chairman Bill Apfelbaum. They'll assume charge of the assets under Section 363 from the U.S. Personal bankruptcy Code, which enables for any "stalking equine" bid supervised through the U.S. Personal bankruptcy Court for that Southern District of NY, where Plum declared Chapter 11. The investor group will even lend Plum $a million that will permit the funnel to carry on procedures. Plum was released about ten years ago by Nantucket Nectars co-founder Tom Scott. The funnel will come in marketplaces including Aspen, Vail, Nantucket, Martha's Winery, the Hamptons, Telluride, Sun Valley and Miami Beach. "While a filing is really a difficult choice, after trouble for the organization, it's the right choice," stated Scott. "As longtime, visionary senior media professionals, Terry and Bill have excellent track records and that we believe the Plum TV brand is going to be well situated if this emerges in the suggested resource purchase." Contact Andrew Wallenstein at andrew.wallenstein@variety.com