Radio broadcaster Citadel preparing to file for bankruptcy protection by year

[saint]

Radio station owner Citadel Broadcasting is preparing to file for Chapter 11 bankruptcy protection by year-end in a move to lessen its debt burden, according to a published report.

 

Citing unnamed people familiar with the matter, The Wall Street Journal reported Thursday that the nation's third-largest radio broadcaster presented a deal to lenders under which it would file a prearranged bankruptcy plan that would have the support of many creditors.

 

http://www.chicagotribune.com/business/sns-ap-us-citadel-broadcasting-bankruptcy,0,5896530.story

[The Edge]

Hi Dave, any reason why you're bumping a thread (and a few others) that are over a year old? The station in question has come out of bankruptcy some months ago, according to Wikipedia.