Yes, the American Idol owner did indeed file for Chapter 11 bankruptcy back in 2016. At the time, Core Media was sitting on a massive debt worth $398 million. Once the season of Idol came to an end, Core was planning to restructure behind the scenes. The creator of Idol Simon Fuller was owed $3.37 million at the time of the Chapter 11 filing. Core called its structure "unsustainable" and was in need of rapid changes behind the scenes. Since then, American Idol has shifted its production with Fremantle and 19 Entertainment, a part of Sony Pictures Television.
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