An organization that owns a few of Lincoln’s hottest and well-known radio stations filed for chapter safety final month however stated none of its stations will go off the air.
Portland, Oregon-based Alpha Media filed for Chapter 11 chapter safety Jan. 24. The corporate, which owns a number of different Nebraska radio stations, stated in a information launch that it has agreed to a restructuring plan with a number of of its lenders to scale back debt.
The corporate stated it expects to exit chapter within the first half of the yr and expects no disruption to its broadcast operations, prospects or staff.
Alpha stated that present administration will stay in place.
Bob Proffitt, chairman and CEO of the corporate, stated within the information launch that the chapter submitting was essential to “handle by way of the continued downturn attributable to the COVID-19 pandemic.”
“Our core enterprise continues to carry out nicely regardless of present market challenges,” Proffitt stated within the launch. “We’ll proceed to put money into our proficient groups to foster the distinctive tradition that has been key to Alpha Media’s success in delivering dynamic, various and thrilling content material to our communities.”
Alpha Media owns greater than 200 radio stations throughout the nation, together with KFOR-AM, KFRX-FM, The Blaze, The Eagle, 1480 KLMS and 96 KX in Lincoln. It additionally owns 5 radio stations in Columbus.