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More grim news for the radio business. Interep, one of two national radio rep firms, will close down sometime later this year, relinquishing the national rep business to Katz Media. On Friday, Interep filed a motion with the U.S. Bankruptcy Court for the Southern District of New York to convert its bankruptcy Chapter 11 status to Chapter 7 liquidation in order to pay off the company’s debtors.
Interep has been in financial trouble for the past three years.
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