Inner City Media Reaches Deal On Bankruptcy Exit Plan

Law360, New York (September 13, 2011, 6:12 PM EDT) -- Inner City Media Corp., a radio network targeting African Americans, announced Tuesday it had reached a deal with creditors on a plan to bring the company out of bankruptcy protection and keep its pair of historic New York City radio stations on the air.

The network, founded in 1970 by civil rights leader Percy Sutton, said in a statement that it has until Oct. 17 to file the restructuring plan to appease five creditors claiming in New York bankruptcy court to be owed more than $250...
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