UPDATED: Losing $130,000/week, CHCH files for bankruptcy. Station will stay on the air, local hours to be slashed

HAMILTON – The good news is that after more than 60 years on the air, CHCH-TV Hamilton is not closing down.The bad news is that many people lost their jobs on Friday. All 129 full time and 38 part time employees of Channel 11 LP were officially let go at 4 p.m. on Friday. However, a new company will take its place Monday and of those let go, 58 full time employees and 23 part timers were offered jobs with the new company, according to Channel Zero VP sales and marketing Chris Fuoco. They have until Sunday evening to make a decision...