West Michigan: Newsmakers March 2, 2010

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Grand Rapids Press:

Radio broadcasting company, Regent Communications, Inc. (RGCI), filed for Chapter 11 bankruptcy protection Monday and reached a restructuring agreement with its senior lenders. The restructuring will eliminate approximately $87 million of Regent's debt, said a press release from Brainerd Communicators, the public relations firm representing the company. Day-to-day operations will continue without interruption and no changes will be made to senior leadership, it further stated. Phil Catlett, president and general manager of Regent in Grand Rapids, was not at liberty to comment, but confirmed a meeting this morning to discuss the changes. Catlett said the mood was far from somber. "I would say not at all somber, no. It's quite positive step I think for Regent and for our people here," he said. Based in Cincinnati, Regent owns and operates 62 stations located in 13 markets. They locally operate WLHT-FM (95.7), WGRD-FM (97.9), WTRV-FM (100.5), WFGR-FM (98.7) and WNWZ 1410 AM... Regent Communications files Chapter 11 bankruptcy (Mon, 3/1)

 

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This page contains a single entry by Mike Austerman published on March 2, 2010 6:14 AM.

Metro Detroit: Newsmakers March 1, 2010 was the previous entry in this blog.

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