Comeuppance capitalism style...
 

Liberals are dancing in the streets!!!


Citadel Broadcasting Corp., 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, including KABC-AM in Los
Angeles, WLS-AM in Chicago, WABC-AM and WPLJ-FM in New York and KGO-AM
in San Francisco. Citadel's WABC is home to several syndicated hosts,
including Don Imus, Rush Limbaugh, Joe Scarborough and Mark Levin.

In documents filed in U.S. 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.

Comeuppance capitalism style...
 

jps wrote:
Liberals are dancing in the streets!!!


Citadel Broadcasting Corp., 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, including KABC-AM in Los
Angeles, WLS-AM in Chicago, WABC-AM and WPLJ-FM in New York and KGO-AM
in San Francisco. Citadel's WABC is home to several syndicated hosts,
including Don Imus, Rush Limbaugh, Joe Scarborough and Mark Levin.

In documents filed in U.S. 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.

For those getting laid off they should ask the question, who is bailing
me out?

Bailouts are corruption. Pure and simple. Not much difference between
Obama cutting GM a $100 billion and Chavez porking his buddies, both on
the backs of taxpayers and workers via taxation.

Rush will find a new home soon.

Comeuppance capitalism style...
 

On Sun, 20 Dec 2009 22:04:27 -0700, Canuck57
wrote:

jps wrote:
Liberals are dancing in the streets!!!


Citadel Broadcasting Corp., 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, including KABC-AM in Los
Angeles, WLS-AM in Chicago, WABC-AM and WPLJ-FM in New York and KGO-AM
in San Francisco. Citadel's WABC is home to several syndicated hosts,
including Don Imus, Rush Limbaugh, Joe Scarborough and Mark Levin.

In documents filed in U.S. 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.

For those getting laid off they should ask the question, who is bailing
me out?

Bailouts are corruption. Pure and simple. Not much difference between
Obama cutting GM a $100 billion and Chavez porking his buddies, both on
the backs of taxpayers and workers via taxation.

Rush will find a new home soon.

Citadel's filing a Chapter 11 won't necessarily mean that Limbaugh and
others will be evicted. Chapter 11 is essentially a debt
restructuring plan prepared under the auspices of the court. From
what is posted here, it would appear that the plan is essentially
ready for review and approval by the court. If Citadel's creditors
are in agreement with the plan as Citadel has submitted it, then
Citadel is in a fairly good position to follow the plan through, and I
would think the Bankruptcy Court would approve it.

--
Posted via NewsDemon.com - Premium Uncensored Newsgroup Service
-------http://www.NewsDemon.com------
Unlimited Access, Anonymous Accounts, Uncensored Broadband Access

Comeuppance capitalism style...
 

wrote in message
...
On Sun, 20 Dec 2009 22:04:27 -0700, Canuck57
wrote:

Rush will find a new home soon.

Rush is syndicated, He could broadcast from his house and nothing
would change except the local Citadel stations he would show up on.
Love him or hate him, he draws millions of gullible listeners in the
prime demographics and that is an advertiser's dream. Other stations
will trip over Citadel's corpse to sign him if they went under..

And KGo is a liberal station in SF.

Comeuppance capitalism style...
 

"Canuck57" wrote in message
...
jps wrote:
Liberals are dancing in the streets!!!


Citadel Broadcasting Corp., 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, including KABC-AM in Los
Angeles, WLS-AM in Chicago, WABC-AM and WPLJ-FM in New York and KGO-AM
in San Francisco. Citadel's WABC is home to several syndicated hosts,
including Don Imus, Rush Limbaugh, Joe Scarborough and Mark Levin.

In documents filed in U.S. 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.

For those getting laid off they should ask the question, who is bailing me
out?

Bailouts are corruption. Pure and simple. Not much difference between
Obama cutting GM a $100 billion and Chavez porking his buddies, both on
the backs of taxpayers and workers via taxation.

Rush will find a new home soon.


Rehab likely. He's been there and done that... an expert.

--
Nom=de=Plume

Comeuppance capitalism style...
 

In article ,
says...

On Sun, 20 Dec 2009 22:04:27 -0700, Canuck57
wrote:

Rush will find a new home soon.

Rush is syndicated, He could broadcast from his house and nothing
would change except the local Citadel stations he would show up on.
Love him or hate him, he draws millions of gullible listeners in the
prime demographics and that is an advertiser's dream. Other stations
will trip over Citadel's corpse to sign him if they went under..

Yeah, but when hundreds of gullible listeners are swept away by NPR and
they go out of business, the Govt. (DNC) pays all their bills...

Comeuppance capitalism style...
 

On Mon, 21 Dec 2009 13:42:27 -0500, Gene
wrote:

On Sun, 20 Dec 2009 19:41:18 -0800, jps wrote:


Liberals are dancing in the streets!!!


Citadel Broadcasting Corp., 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, including KABC-AM in Los
Angeles, WLS-AM in Chicago, WABC-AM and WPLJ-FM in New York and KGO-AM
in San Francisco. Citadel's WABC is home to several syndicated hosts,
including Don Imus, Rush Limbaugh, Joe Scarborough and Mark Levin.

In documents filed in U.S. 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.

Have you lost your mind?

No, but evidently you have. There's no way they could find 10% of the
business on the left as they already have on the right. What they
can't find is the advertisers to pay their way. Too bloody bad. Lay
down with dogs...

Glenn Beck has been reduced to hawking gold.