It’s been over a year since we reported on the bankruptcy battle between Black Crow Media Group and its senior lender, GE Capital. Now there’s good news.
Black Crow announced that it has reached a global settlement with GE and its other creditors. The US Bankruptcy Judge has approved the deal under which Black Crow will emerge from bankruptcy with a substantially reduced debt load and remain independent.
“We couldn’t be more pleased that we’ve achieved an outcome through the bankruptcy process that maintains Black Crow Media Group’s integrity, markets, employees and local focus,” said CEO Mike Linn.
Black Crow owns and operates 22 radio stations in five markets in Tennessee, Alabama, Georgia and Florida.