From Radioinsight.com:
Alpha Media has filed for Chapter 11 bankruptcy today as a part of a pre-arranged plan of reorganization with its creditors.
Among the unsecured creditors owed money are $103,974,381.40 in unsecured notes to ICG North America Holdings Ltd., $2,366,735.81 to Nielsen Audio, $823,829.43 to BMI, and $748,597.53 to Crown Castle Towers. Many other programming, engineering and tower companies are listed in the filing as being owed between $10,000 and $300,000.
The company has secured $20 million in debtor-in-possession financing to continue operating during the bankruptcy process. The company intends to recapitalize $267 million in debt and convert $72.6 million in debt to equity.
Link: Alpha Media Files For Chapter 11 Bankruptcy Restructuring - RadioInsight
Alpha Media has filed for Chapter 11 bankruptcy today as a part of a pre-arranged plan of reorganization with its creditors.
Among the unsecured creditors owed money are $103,974,381.40 in unsecured notes to ICG North America Holdings Ltd., $2,366,735.81 to Nielsen Audio, $823,829.43 to BMI, and $748,597.53 to Crown Castle Towers. Many other programming, engineering and tower companies are listed in the filing as being owed between $10,000 and $300,000.
The company has secured $20 million in debtor-in-possession financing to continue operating during the bankruptcy process. The company intends to recapitalize $267 million in debt and convert $72.6 million in debt to equity.
Link: Alpha Media Files For Chapter 11 Bankruptcy Restructuring - RadioInsight