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Published: Wednesday, 11/1/2006

Toledo Channel 48 files for bankruptcy

L&M Video Productions Inc., a Toledo firm that does business as WNGT-TV, Channel 48, a low-power station, filed a Chapter 11 case in U.S. Bankruptcy Court this week, claiming assets of $1.2 million and liabilities of $1.9 million.

Among the largest unsecured debts listed in the petition are $200,000 for a lease and business loans of $140,000 and $113,000 owed to individual area investors.

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