were hastily pulled from the WBFS-TV schedule because their syndicators, such as Embassy Pictures, were threatening to pull the programs and already shopping them to channel 33's competitors. On December 8, 1986, all three Grant television stations filed for Chapter 11 bankruptcy protection in Philadelphia. This protected them from the demands of the syndicators. WBFS-TV was the most successful of the three stations economically, though only in relative terms. Before taxes, it lost $6.54 million in 1986, compared with $9.72 million at the Philadelphia station and $13.76 million in Chicago. One syndicator even went as far as to file a competing application against WBFS-TV's license renewal, largely as a leverage maneuver in bankruptcy court. In a March 1987 bankruptcy court proceeding in Philadelphia, Grant was allowed to continue operating its stations until at least July 1 through cash and accounts receivables to fund operations, denying a motion by the company's creditors to assume control of the stations or force their sale. However, on July 7, Grant agreed to enter into receivership and turn over control of the company and its three stations to its television program suppliers and bondholders under a reorganization plan—which was formally filed on October 13 and approved on March 30, 1988—to repay $420 million in debt from the stations' operations by 1995, at which point the stations would be sold off. In July 1988, Combined Broadcasting, a creditor-controlled company, took over Grant and the three stations. Despite being run by a consortium of creditors, WBFS continued to do well under Combined's stewardship. It became the over-the-air home of the expansion Miami Heat of the NBA in 1988. It added rights to 50 games from the Florida Marlins of Major League Baseball's National League and 10 road games of the Florida Panthers of the NHL in 1993. In 1993, Combined put WBFS and WGBO up for sale, seeking $90 million for the pair. Chris-Craft Industries expressed interest in both stations, and Renaissance Communications, owner of competing independent WDZL (channel 39), also looked into a bid to combine both stations' programming, but Combined took them off the market later in the year. Combined sold WGBO to Univision in early 1994 for $30 million, resolving a schedule clearance problem for the Spanish-language network in that city. In April 1994, Combined signed an affiliation agreement for WBFS-TV with The WB, a new television network slated to start in January 1995.