[Peace-discuss] Fwd: [Board] CITADEL BROADCASTING FILES FOR BANKRUPTCY PROTECTION

[Danielle Chynoweth]

Rush Limbaugh's host radio station files for bankruptcy.  So much for
conservative fiscal responsibility! - Danielle

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 CITADEL BROADCASTING FILES FOR BANKRUPTCY PROTECTION
[SOURCE: Associated Press, AUTHOR: ]

 Citadel Broadcasting, the nation's third-largest radio broadcasting
company, filed for Chapter 11 bankruptcy protection on Sunday in an effort
to restructure its hefty debt load as it continues to face declining
advertising revenue. Citadel owns and operates 224 radio stations in all
major markets and produces news and talk radio programing for 4,000 station
affiliates and 8,500 program affiliates.

Citadel's WABC is home to several syndicated hosts, including Don Imus, Rush
Limbaugh, Joe Scarborough and Mark Levin. In documents filed in US
Bankruptcy Court for the Southern District of New York, Las Vegas-based
Citadel listed total assets at Oct. 30 of $1.4 billion and total debt of
$2.46 billion. The company said in a statement it has reached an agreement
with more than 60 percent of its lenders on a deal that would erase about
$1.4 billion of debt in exchange for control of the company.
   Associated Press<http://benton.org/outgoingframe/30746?utm_campaign=Benton%27s+Headlines&utm_source=newsletter&utm_medium=email&utm_content=2009/12/21/nid-30760&>

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Nan Rubin
Community Media Services
4700 Broadway #2J
NYC NY USA 10040
212-569-3391
www.nanrubin.com

"The first hurdle is the people who
will not accept the change that's already
happened." -- Joss Whedon

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