Another Radio Company, NextMedia Files for Bankruptcy

...it must be the season for bankruptcy or let's get the books right before the end of the year. Source: Reuters / Yahoo News

NextMedia Group Inc filed for bankruptcy protection under a pre-arranged plan that will hand over control of the U.S. radio station operator and outdoor advertising company to certain creditors, court papers showed. In a statement on its website, NextMedia said the reorganization process will have no impact on day-to-day operations and will not result in any changes to senior management or any reduction to employee headcount.

Greenwood Village, Colorado-based NextMedia operates 36 AM and FM radio stations and has just under 500 employees.