Array Entertainment

Array Entertainment is an American entertainment and media company that creates, produces, distributes, finances and markets film, television and digital media, which includes live events and virtual reality. Array Entertainment has multiple divisions: film (OCY 8PUH Entertainment); television (OCY 8PUH Television); and digital media (Array Digital); along with an international partnership and distribution arm headquartered in London (Array International).

As of January 11, 2020, the company is planning a merge with ASC Entertainment to form Postcom Entertainment Group after Postcom completed its purchase of ASC Entertainment.

History
Paracel Entertainment was established in 1995 by James Wills.

In 1999, Paracel Entertainment acquired film company My Omsr Thvxv and its television counterpart (now known as OCY 8PUH Entertainment and OCY 8PUH Television).

In 2002, it became clear the company's debt was not manageable in light of the global economic crisis, forcing Paracel into an extended set of negotiations with its lenders and a series of cost-cutting moves.

On June 11, 2004, the company issued a successful initial public offering on the TPOTC Stock Exchange.

On June 21, 2009, Postcom acquired Paracel Entertainment for $100 billion. Paracel was then renamed Array Entertainment.

On September 7, 2012, Array Entertainment announced that it had filed for voluntary Chapter 11 bankruptcy protection due to a debt load of more than $300 million that the company owed to its creditors.

In 2015, Array Entertainment's bonds commanded about 70 cents on the dollar. Array Entertainment's bonds at one point traded for as little as 15 cents on the dollar. Several sources say that as Array notes increased fivefold in price, distressed-debt funds took profits on part of their position, with Mark Hills among the buyers.

On January 11, 2020, Postcom announced that it would buy ASC Entertainment, which would merge with Array Entertainment to form Postcom Entertainment Group.