A media company based in Des Moines, Iowa, has entered a bankruptcy process, indicating a financial strain in the industry. AON Studios, LLC filed the petition after reporting liabilities that exceed its assets.
Several media and production companies across the U.S. have recently filed for Chapter 11 as part of debt restructuring efforts.
AON Studios, LLC Enters Bankruptcy as a Small Business Debtor
Known for its professional media production and live streaming services, the company submitted a Chapter 11 on April 13, 2026. Early filing details suggest that the filing is driven by its liabilities outweighing the total assets.
According to court records found on RK Consultants, the company is a small business debtor pursuant to 11 U.S.C. § 101(51D). The company is seeking to reorganize under Subchapter V of Chapter 11.
The proceedings are currently taking place in the U.S. Bankruptcy Court for the Southern District of Iowa.
Attorney Jeffrey D. Goetz of Dickinson, Bradshaw, Fowler & Hagen, P.C., is representing the company.
Case Details
The aggregate noncontingent liquidated debts of AON Studios, LLC are less than $3,424,000, court records state. This amount excludes debts owed to insiders or affiliates, and is subject to adjustment on April 1, 2028, and every three years thereafter.
Court records show CEO Dwight A. Reed signed the petition as the company’s authorized representative. Other details related to the Chapter 11 petition, which can be found on the PACER database, are:
- Filing Date: April 13, 2026
- Court and Jurisdiction: U.S. Bankruptcy Court for the Southern District of Iowa
- Type of Filing: Active, Voluntary Petition, Subchapter V
- Chapter: 11
- Case Number: 26-00573-Imj11
- Estimated Assets: Between $0 and $50,000
- Estimated Liabilities: Between $1,000,001 and $10 million
- Estimated Creditors: Between 1 and 49
- Reason for Filing: Restructure business under court supervision
Filing details show that the company submitted a list of creditors who have the 20 largest unsecured claims and are not insiders. These include Small Business Administration, Silverline Services, LLC, Iowa Department of Revenue, Intuit Financing, Inc., and more.
Court filings indicate that funds will be available for distribution to the unsecured creditors.
About AON Studios
Founded in 2020, the Des Moines-based company operates from a 6,000-square-foot facility. According to its website, the team members at the media company have a combined industry experience of around three decades.
Founded by Dwight Reed, the company offers a wide range of services, including video production, commercial production, live streaming, legal deposition recording, podcast studio access, and motion graphics.
Previous Filings by Media Companies
Just three months into 2026, several media companies have already filed for bankruptcy.
On April 6, 2026, Atlanta-based Noise Entertainment & Media LLC voluntarily filed for Chapter 11 as a small business debtor. Known for sports marketing along with a variety of content production for films, live events, and other visual content, the company seeks to reorganize its debts through the process.
Last month, another company from Atlantic City, New Jersey, entered Chapter 11 proceedings for similar reasons. ACX1 Studios LLC runs a 550,000-square-foot production facility along the Atlantic City boardwalk and backs several films, TV, and social media projects. It currently provides 150 studio sets with equipment rental and crew support.
The latest filing places AON Studios, LLC among this growing number of media and production firms approaching bankruptcy courts. Its Subchapter V proceeding is expected to be instrumental in determining how the company restructures its obligations while continuing operation.
