Bankrupt Broadcast School to be Auctioned Off
By Anthonia Akitunde in News on Apr 19, 2009 4:00PM
CSB School of Broadcasting will make its way to the auction block on May 8 after the school went bankrupt in early March, according to a Chi-Town Daily News report.
Dick Robinson Media, Inc., the current potential buyer, has plans to buy all the company's assets but only keep 10 out of the 26 campuses open if it wins the auction.
CSB's locations in the Loop and Downers Grove face closure if Dick Robinson Media, Inc. wins, but an attorney for the bankruptcy trustee told Chi-Town Daily News money from the sale would be used to refund students who would not be able to complete their studies.
The bankruptcy court allowed CSB to temporarily reopen two weeks after it went bankrupt in March to allow students to finish the three- to four-month program. However, it is unclear how many students will be able to finish by the court's April 20 deadline.
According to CSB's website, its trustees hope to find a buyer who would allow the school to continue operating.