Citadel Broadcasting has filed a restructuring plan with the U.S. Bankruptcy Court in Manhattan, with a proposal that would give 90 percent of its equity to lenders, led by JP Morgan Chase, that are owed more than $2 billion.
S592 must be voted out of the Senate and signed by the President this year, or thousands of community groups across the country will lose out on the opportunity to have low power (100 watts or less) FM radio stations.
Shaking up Nashville and knocking down the 'Big 5' - one at a time...
With the rumblings of failing 'big dog' record companies in Nashville, Trace Adkins has joined forces with country's rebel child Toby Keith at his Indy label, Show Dog.
I certainly enjoy the refreshng commentary from Eric Rhodes from Radio Ink - Eric's reputation as a man who sees through the fog of whiney (conglomerate) radio carries a lot of weight with the locally owned broadcasters.
Glancing around the Internet, I run across an article in MediaBase/AllAccess: "WSJ: Radio Asks Lenders for Help" Then, right below that article, I see this article: "Nielsen: Ad Spending Down 15.4% So Far In '09"
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eugenebob @ feedbackpdxradio.com
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