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Studio Company Files For Bankruptcy Protection in Phoenix Court.(Knight Ridder/Tribune Business News)

Knight Ridder/Tribune Business News, July, 2000

Jul. 7--Icon Studios, which has been trying to develop a movie studio in the West Valley, has filed for Chapter 11 bankruptcy protection so it can reorganize its operations.

Jerry Kosowsky, managing partner of Icon, said the filing in U.S. Bankruptcy Court in Phoenix would not affect plans by another company he heads, Glendale Media, to develop an employment center in an unincorporated area near west Glendale.

Kosowsky said he believes a studio will be an integral part of the Glendale Media development.

"This is not going to stop our plans," he said. "We are going forward full-bore."

Kosowsky's plans for a movie production studio have been in limbo for more than two years. In 1998, Icon Studios and Continental Homes proposed to...

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