NextMedia Plans Sale To Creditors In Prepack Ch. 11
NextMedia Group, a holding company for NextMedia Investors LLC's radio broadcasting and outdoor advertising companies, filed a bankruptcy petition in the U.S. Bankruptcy Court for the District of Delaware, citing the recession as the prime factor in the company's need to restructure its debt.
The bankruptcy petition lists $100 million to $500 million in estimated liabilities, and only as much as $50,000...
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