UPDATED AT 5:30PM EASTERN
The nation’s two biggest owners and operators of radio stations are not alone in their desire to reorganize under Chapter 11 of the U.S. bankruptcy code.
MGTF Radio Company — the entity created by the sons of veteran Pittsburgh radio station owner Saul Frischling — on Tuesday (3/20) morning filed a bankruptcy petition in U.S. Bankruptcy Court for the Eastern District of Missouri.
RBR+TVBR reviewed the filings, assigned to Judge Charles E. Rendlen III, and a list of creditors had already been furnished. By day’s end, it became known that WPNT Inc., the licensee for the Frischling family’s two FMs in Pittsburgh, had been added to the Missouri petition.