Support for LAist comes from
We Explain L.A.
Stay Connected

Share This

This is an archival story that predates current editorial management.

This archival content was written, edited, and published prior to LAist's acquisition by its current owner, Southern California Public Radio ("SCPR"). Content, such as language choice and subject matter, in archival articles therefore may not align with SCPR's current editorial standards. To learn more about those standards and why we make this distinction, please click here.

News

KABC 790 TalkRadio Owner Files for Chapter 11 Bankruptcy

radio_closeup.jpg
We need to hear from you.
Today, put a dollar value on the trustworthy reporting you rely on all year long. The local news you read here every day is crafted for you, but right now, we need your help to keep it going. In these uncertain times, your support is even more important. We can't hold those in power accountable and uplift voices from the community without your partnership. Thank you.

In the face of "declining advertising revenue" and with plans to "restructure its hefty debt load," the country's third-largest radio broadcasting company, Citadel Broadcasting Corp., "filed for Chapter 11 bankruptcy protection on Sunday," reports the Press-Telegram. Of Citadel's 224 radio stations is our KABC 790 AM, a talk radio-format station that airs syndicated programming such as Don Imus' show, as well as local talkers Frosty, Heidi, and Frank, and Dodgers' game broadcasts. Citadel's bankruptcy paperwork indicates they have "total assets at Oct. 30 of $1.4 billion and total debt of $2.46billion." A deal agreed to by 60 percent of their lenders "would erase about $1.4 billion of debt in exchange for control of the company."

Most Read