TaxMasters Bankruptcy Leaves Media Companies Owed For Advertising

The bankruptcy of heavy television and radio advertiser TAXMASTERS has left some radio companies on the creditor list, reports FORBES' JANET NOVACK.  TAXMASTERS filed for bankruptcy last month and claims only $1.7 million in assets while owing several creditors millions and being held liable for a $195 million verdict in a TEXAS case.

Among the creditors are WESTWOOD ONE (now part of DIAL GLOBAL), owed $676,000, FOX NEWS CHANNEL ($938,414), MSNBC ($259,441), and ESPN ($94.265).

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