LOS ANGELES , July 13 / PRNewswire / -- New Vision Television , which owns and operates 14 major network-affiliated television stations across the United States , announced agreement with its first and second lien debt holders on a comprehensive financial restructuring plan . The plan will eliminate all of New Vision 's debt and guaranteed obligations of more than $ 400 million , provide New Vision with capital to ensure the Company 's uninterrupted business operations , and begin a pre-arranged , consensual bankruptcy proceeding today in the United States Bankruptcy Court , District of Delaware .