Citadel Applies To Move Licenses Back From Debtor Status
May 6, 2010 at 3:30 AM (PT)
CITADEL BROADCASTING has filed the paperwork with the FCC to move its stations back from debtor-in-possession status to its post-reorganization entities. The applications note that "the attributable ownership interests in CITADEL are substantively unchanged" from the entities that existed before the company filed for Chapter 11 bankruptcy.
The WALT DISNEY CO. has also filed a reservation of rights to assert its ownership of the trademarks KABC, KGO, KGO NEWSTALK, WABC, WLS, ABC GALAXY RADIO NETWORK, ABC GENESIS RADIO NETWORK, ABC PLATINUM RADIO NETWORK, ABC PRIME RADIO NETWORK, ABC RADIO, and ABC RADIO NETWORKS, plus several URLs. "To avoid the expense, time, and uncertainty of litigation, TWDC and the Debtors are currently negotiating a stipulation and order to settle their disputes," the filing states.
CITADEL is also facing an objection to its reorganization plan from 60 MONROE CENTER LLC, the landlord for CITADEL in GRAND RAPIDS, which claims that CITADEL owes it a missed rent payment and expenses of $23,932.20 while CITADEL's plan claimed that it owes nothing to the landlord.
And in an APRIL 26th filing amending the reorganization plan, CITADEL has asked the court to allow it to reject several contracts previously not on the rejected lst, including employment contracts with CITADEL MEDIA host JOE SCARBOROUGH, whose show was taken off the air for "retooling," and Talk WMAL-A/WASHINGTON morning co-host ANDY PARKS, who was recently let go from the station. Three JACOBS MEDIA and two ATLAS TALENT AGENCY deals are also on the list.