J
JPJ
Guest
Well I assume the real VALUE would be the Station Licenses more than any Physical Assets,none of the Daytona Stations are anywhere close to an HD transistion.
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Black Crow Broadcasting Files Chapter 7 Bankrupt!
- Thread starter pocket-radio
- Start date
pocket-radio said:
Chapter 13 of the United States Bankruptcy Code is an individual debt reorganization. In Black-Crows case, the company has filed for Chapter 11 Bankruptcy protection which is a business debt reorganization. Chapter 12 deals with farm debt reorganization, and Chapter 7 is a straight asset liquidation, or insolvency for personal or business. Other than a Chapter 7 filing, all creditors have to agree to the terms and conditions of the reorganization proposed to the court by the debtor before the bankruptcy court will grant the debtor's reorganization petition.
Re: Not Chapter 7, Chapter 11 !
Black Crow Media files Chapter 11 bankruptcy
By Industry News Services
Wednesday, 13 January 2010 15:52
by Valdosta Daily Times
Black Crow Media Group today announced that it is voluntarily restructuring its debt obligations under the protection of Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Florida. The company will continue to operate its 22 radio stations during the restructuring without interruption and has sufficient resources to do so.
“Unfortunately, over the past year and despite enormous efforts to reduce expenses, economic conditions have finally deteriorated to a point where it has become impossible for us to support our existing debt.” said Mike Linn, President and CEO of Black Crow. “It is our hope that this restructuring will bring our debt in line with existing market conditions thereby allowing us to once again focus on operations and the job of providing our markets with the highest quality news, information and entertainment possible.”
Black Crow Media files Chapter 11 bankruptcy
By Industry News Services
Wednesday, 13 January 2010 15:52
by Valdosta Daily Times
Black Crow Media Group today announced that it is voluntarily restructuring its debt obligations under the protection of Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Florida. The company will continue to operate its 22 radio stations during the restructuring without interruption and has sufficient resources to do so.
“Unfortunately, over the past year and despite enormous efforts to reduce expenses, economic conditions have finally deteriorated to a point where it has become impossible for us to support our existing debt.” said Mike Linn, President and CEO of Black Crow. “It is our hope that this restructuring will bring our debt in line with existing market conditions thereby allowing us to once again focus on operations and the job of providing our markets with the highest quality news, information and entertainment possible.”
J
JPJ
Guest
You've hit on something!freakshow said:
That would be a great thing!JPJ said:
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