Any future chance of shutting the Score down locally would be absolutely amazing.

Any future chance of shutting the Score down locally would be absolutely amazing.

So you want the station to be shut down? that would be amazing?

So you want the station to be shut down? that would be amazing?

Ok just read the WSJ article. This is a standard Chapter 11 filing for a prepackaged bankruptcy (Chapter 7 is liquidation as a reminder, while 11 is a restructuring).

The Senior Lenders will own the company and provide financing to operate the business.

Once they emerge, they should have a cleaner balance sheet (read lots less debt). The business will probably be chopped up and sold, but it could simply be stripped down to core assets and then run as is. It is likely that the lenders (now equity holders) will either IPO the company or sell it in whole to a player in the industry.

I expect very little to change with the radio stations other than who owns them.

Aren't the contracts of talent voided at this point Deni$?

So you want the station to be shut down? that would be amazing?

What about their Cubs radio deal? Can they get Ricketts to renegotiate?

Looks like it can be rejected.

“ Bankruptcy Estate
For bankruptcy purposes, your employment contract is property that becomes part of the bankruptcy estate. The bankruptcy estate is a collection of all the debtor's property. Once the debtor files bankruptcy, the trustee or, in a Chapter 11 case, the debtor in possession, gains control of the bankruptcy estate and may make decisions about what actions best serve your employer's creditors' best interests. Where your employment contract is concerned, the trustee generally may either assume or reject it.”

He was a gay, Scotti

I assume Bernstein is making the biggest coin, so...uh-oh?

I assume Bernstein is making the biggest coin, so...uh-oh?

The Senior Lenders will own the company and provide financing to operate the business.

Once they emerge, they should have a cleaner balance sheet (read lots less debt). The business will probably be chopped up and sold, but it could simply be stripped down to core assets and then run as is. It is likely that the lenders (now equity holders) will either IPO the company or sell it in whole to a player in the industry.

I expect very little to change with the radio stations other than who owns them.

You can break virtually every contract in bankruptcy. I doubt Bernstein's contract alone is big enough to warrant special treatment. On the other hand, if there's a whole class of guys like him across their various stations, that class might be a prime target for cost savings.

I don't understand how we arrive at "very little will change" from ownership under creditors who probably have no desire to be in the radio business and will cut operating costs to the bone. I think that will change things very much. This could easily get rid of every live/local DJ in the company, for instance.

But they will cut his pay, and when he complains, tell him that they voided his contract.

If you're buying an AM station in 2024, you're buying it for the transmitter real estate. They sold WBBM's land to put up, like, a Public Storage or something.

It would be nice to see WXRT come out of this as a not-for-profit like WFMT. Most AAA stations are non-commercial: WFMU, WXPN, the Current, KEXP. Ours is an anomaly in running 16 minutes of spots per hour. Wonder if the S-T/WBEZ has the money to buy it on the cheap.

You need to gamble so you can pay for those windows. That way you don't have to skype the psychiatrist.