Net broacaster gets OK to auction off assets

PORTLAND – A federal bankruptcy judge Friday approved a request by BroadcastAmerica.com to sell its assets at a public auction.

Sealed bids are being accepted on all or parts of the Portland-based company, said its attorney, Roger Clement. The deadline is Jan. 31.

BroadcastAmerica had billed itself as the world’s largest Internet broadcaster, airing more than 750 radio and television stations over the Web.

But BroadcastAmerica, like many other dot-com businesses, ran into financial problems last year. In November, it filed for Chapter 11 bankruptcy protection.

Clement said he was pleased that Judge James Haines approved BroadcastAmerica’s request to maintain control of the auction process. BroadcastAmerica hopes to find a bidder willing to buy the entire business and keep it intact.

Assets up for auction range from machinery and equipment to radio and TV contracts and domain names.

The Keenan Auction Company of South Portland will market the company worldwide as well as on the Internet.