Equity Media Holdings Corporation was a broadcasting company based in Little Rock, Arkansas that owned and operated television stations across the United States. Prior to March 30, 2007, the company was known as Equity Broadcasting, a name later used for its broadcast station subsidiary. The company had a focus on Hispanic and Asian American communities in large markets while owning a combination of English-language network affiliates in medium and small markets. Equity was known for its use of broadcast automation to control dozens of small, local UHF television broadcasting stations from one central Little Rock location; the feeds were readily visible on free-to-air satellite television through much of North America, despite the very small terrestrial footprint of the individual stations over the air. Most commonly, Equity stations were low-power television affiliates of Univision, Fox, The WB/UPN or carried music videos and classic television reruns. In late 2005, Equity launched the Retro Television Network (RTN for short), a programming service with a lineup of "classic" shows from the 1950s through the 1980s which currently airs in part or full in numerous markets (controversially replacing UPN in one). Equity sold RTN to Luken Communications in June 2008. Equity filed for Chapter 11 bankruptcy on December 8, 2008 and auctioned the individual stations on April 16, 2009. Many stations were sold to broadcast companies such as Daystar Television Network. Financial troubles In the company's annual report for 2007, released on April 2, 2008, Equity said that the company was in default on its credit lines, and that if it could not find additional financing it "will need to cease all or a portion of its operations, seek protection under U.S. bankruptcy laws and regulations, engage in a restructuring or undertake a combination of these and other actions." An earlier indication of Equity's troubles came one month previously when its board of directors appointed its chairman, Henry Luken, to replace Equity founder Larry Morton as president and CEO. Morton remained the chair, president and CEO of Retro Television Network. Retro Television Network was sold to Luken's company, Luken Communications, on June 25, 2008. Luken Communications continued to operate RTN out of Little Rock, Arkansas as a client of Equity's C.A.S.H. system. In June 2008, Equity instituted a companywide suspension of news programs. In November 2008, Equity began attempts to sell all of its TV stations and cut most of the company's top management in