Sunday, December 20, 2009

Citadel Broadcasting files for bankruptcy

Word is that Citadel Broadcasting isn't going to make the January 15, 2010 deadline for its unsecured creditors and has filed for bankruptcy today. Yes, today, Sunday December 20. The filing reportedly lists a debt of $2.5 billion, while the Wall Street Journal reports that Citadel would emerge from this filing with a debt of $762 million.

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