KIT digital, a global provider of digital television and media solutions, has confirmed that its Plan of Reorganisation will be confirmed by the US Bankruptcy Court for the Southern District of New York. KIT digital filed for voluntary bankruptcy protection three months ago to cleanse itself of legacy issues, including financial, legal and regulatory matters.
Upon emergence from bankruptcy, the company plans to rebrand as Piksel, and relaunch at September’s IBC event in Amsterdam.
“Piksel is set to emerge as a healthy, dynamic company with a great mix of talented employees, market-leading customers, profitable assets, and sufficient liquidity for operations and investments,” said Peter Heiland, interim CEO of Piksel. “I would like to thank all of those who dedicated so much time and effort, including our employees and advisors, to helping us complete our restructuring.”
KIT digital will officially rebrand on August 29th.