Judge OKs Auction Of $180M InnerCity Media Assets

Law360, New York (January 9, 2012, 4:55 PM EST) -- A New York bankruptcy judge on Monday approved a Feb. 16 auction date for the assets of African-American broadcasting company Inner City Media Corp., which are worth at least about $180 million.

U.S. Bankruptcy Judge Shelley C. Chapman signed off on the bidding procedures after a labor union, which represents on-air talent at Inner City's New York and San Francisco radio stations, agreed to hold its objection to the sale until a Feb. 21 court hearing after the sale itself. Bids are now due by Feb....
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