J.Lo’s Media Company Files for Bankruptcy

Fuse Media, the independently owned media company with a roster of investors that includes Jennifer Lopez, filed for Chapter 11 bankruptcy in a Delaware court Monday night. The Los Angeles-based company, saddled with more than $242 million in debt, couldn’t make a recent bond interest payment. The voluntary bankruptcy reorganization would allow the company to trim roughly $200 million of that off its balance sheet while reducing related interest expenses, according to a company statement.   “Unlike many other companies in our industry, Fuse has been experiencing growth across platforms, but we haven’t been unable to realize the full benefits of this progress because of the significant amount of debt on our balance sheet,” Fuse Media chief financial officer and interim chief executive officer Mike Roggero said in a statement. “The Chapter 11 process provides a proven framework to efficiently address these challenges in order to position our business for long-term success. It is a logical next step toward ensuring that we are able to provide entertainment content to a traditionally underserved audience for many years to come.” Digital and social media viewership on Fuse Media, which targets a mostly Latino and multicultural audience of Millennials and Gen Zers, has increased 250

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