The National Association of Television Program Executives (NATPE) has reportedly filed for Chapter 11 bankruptcy protection. The longtime trade group cited financial fallout from the COVID-19 pandemic, which led to the cancellation of numerous conferences and events, contributed to the decision.
“NATPE, like many other professional organizations, has been adversely impacted by the COVID pandemic, which prevented NATPE from holding events, which typically generate significant revenue,” the organization said in a statement. “These cancellations forced NATPE to operate on its financial reserves, which now require it to reorganize the NATPE business structure.”
NATPE, which targets television station owners, including syndication outlets globally, still plans to hold it U.S. showcase event in the Bahamas (moved from Miami) in 2023, in addition to a planned European event in Budapest, Hungary.
“For almost 60 years, NATPE has been the leading global professional association for content producers, distributors, developers, streamers and buyers across all distribution platforms,” read the statement. “NATPE is optimistic that it will emerge from the reorganization process in the same position.”