Marshall County Radio Corp. Files For Bankruptcy
February 29, 2016 at 1:12 PM (PT)
MARSHALL COUNTY RADIO CORP., licensee of Classic Hits WAXO-A-W240CC/LEWISBURG, TN and low power TV station W29DM-D/LEWISBURG, has filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court for the Middle District of TENNESSEE.
The largest debt owed to a creditor as listed in the filing is LEWISBURG RADIO CO., lessor of the station's tower, owed $200,060.60. ASCAP, BMI, SESAC, and the FCC are also listed as creditors, as is accountant MICHAEL SULLIVAN; liabilities total $231,291.41 and assets total $153,871.50. The filing also shows gross revenue for 2014 was $106,429 and gross revenue for 2015 was $100,000, and $8,400 was billed for 2016 as of the filing.