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

[Jenifer Cartwright]

Omg, Danielle. I read yr whole post thinking it would surely end w/ As if.... or April Fools! I can't believe this is true, but if so, it's the best news I've heard in a very very long time. THANKS for posting this!!
 --Jenifer

--- On Mon, 12/21/09, Danielle Chynoweth <chyn at ojctech.com> wrote:


From: Danielle Chynoweth <chyn at ojctech.com>
Subject: [Peace-discuss] Fwd: [Board] CITADEL BROADCASTING FILES FOR BANKRUPTCY PROTECTION
To: "peace discuss" <peace-discuss at lists.chambana.net>
Date: Monday, December 21, 2009, 12:05 PM


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




* * *

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 

* * * * * * *
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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