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Radio broadcaster Citadel preparing to file for bankruptcy protection by year


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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.



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