Alpha Media Completes Financial Restructuring

Restructures Its Debt

ALPHA MEDIA has completed its financial restructuring and emerged from Chapter 11. In addition to reducing its debt, the company raised incremental capital to pursue growth opportunities and further enhance its position as a leading mid-market broadcaster across 44 local markets in the U.S. 

ALPHA MEDIA Chairman/CEO BOB PROFFITT commented, “This is an important achievement for ALPHA MEDIA as we strengthen our company’s ability to grow. Today, ALPHA MEDIA begins its next chapter, with an improved financial foundation, new capital and enhanced competitive positioning. We have greater financial resources and flexibility, and we will continue to invest in new digital capabilities to better serve our advertisers and communities across our local markets.  

“I am so proud of all that our teams at each of our radio stations have accomplished during this period. Our unique culture continues to be key to ALPHA MEDIA’s success, and I thank the entire ALPHA MEDIA family for their dedication and hard work," he continued. "We are thrilled to continue our mission to deliver dynamic, diverse and exciting content to our communities.”

ALPHA MEDIA’s plan has received all necessary court and regulatory, including FCC, approvals, and all customary conditions have been satisfied. 

SHEPPARD, MULLIN, RICHTER & HAMPTON LLP served as ALPHA MEDIA’s lead restructuring counsel, and KUTAK ROCK LLP served as VIRGINIA counsel. 

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