All Posts: nextmedia

NextMedia owner of 36 radio stations in 8 states filed for bankruptcy reorganization in Delaware today. The pre-arranged plan will give controlof the company to certain creditors. Under the plan, first lien debt and general unsecured claimed will bepaid in full while second lien debt will be converted into 95% ownershipof the company, which also owns an outdoor advertising business.The amount of debt was listed from $100 million to ...