Citadel files for bankruptcy

December 2009
Buffalo Law Journal;12/24/2009, Vol. 81 Issue 103, p1
The article reports on the bankruptcy protection filed by Citadel Broadcasting Corp. on December 20, 2009 in Buffalo, New York. It is stated that Citadel, which owns three frequency modulation (FM) radio stations in the market, reported assets of 1.4 billion dollars and debt of 2.46 billion dollars. According to chief executive officer (CEO) Farid Suleman, they will work to emerge quickly from the restructuring process. It also mentions the agreement with its lenders to eliminate its debt.


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