Regent Files for Bankruptcy Reorg

Regent Communications, an owner and operator of 62 radio stations in 13 midsized markets, announced Monday (March 1) it has filed for prearranged bankruptcy reorganization after reaching an agreement in principal with its lenders. The restructuring will eliminate about $87 million of the company’s debt and put majority equity control in the hands of Oaktree Capital Management.

As part of the agreement, current senior debt-holders will convert their holdings in to a new series of equity in Regent, while current public equity shareholders will receive 12.8

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Spring Special

Save 30% Off an ADWEEK Subscription Today!

View Your Options

Already a member? Sign in