The California Public Utilities Commission has unanimously voted to approve a MVPD engaged in a “good faith” complaint with Gray Television to emergence from chapter 11 bankruptcy, RBR.com reported. The decision comes three months after the FCC gave its blessings. In a brief statement, Frontier Communications confirmed that it secured the all-important CPUC approval. That’s the last of the necessary approvals needed for Frontier to successfully emerge from debtor-in-possession status. The long-awaited approval follows the mid-January OK from the Commission of its chapter 11 reorganization plan. Frontier also successfully received regulatory approval or favorable determinations in 13 states. Upon emergence, Frontier will have reduced its total outstanding indebtedness by more than $10 billion.
