Mired in bankruptcy, Budget Travel has found ways to generate revenue through digital subscriptions on iPad, Kindle, Nook and Android devices, and from display advertising on its website.
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Mismanagement at the now-bankrupt New York City Opera led it to raid its endowment to pay off its huge deficits.
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After emerging from bankruptcy and cutting costs, the venerable studio is generating cash and has a number of movies and TV shows in the works.
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The Web site Budget Travel is in bankruptcy court and the trustee handling the case says no staff member “will be paid a penny.” But that hasn’t stopped the staff from producing new content.
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