‘American Idol’ producer files for bankruptcy

The producer of "American Idol" and "So You Think You Can Dance" has filed for bankruptcy protection.

Core Media Group cited the falling ratings of "American Idol" - which aired its final episode less than a month ago - and money owed to creditors.

Core owes $420 million to third parties, including Sony Music Entertainment and CBS.

"American Idol" creator Simon Fuller is owed $3.4 million, according to the Chapter 11 filing.

Read more from USA Today.