BOCA RATON, FLA. — On November 14, media broker Michael J. Bergner of Bergner & Co., shared details of a plan for his client, Steel City Media, to emerge from debtor-in-possession status.
The plan was said to be “consensual” amongst the company and its “significant financial creditors” and calls for Pittsburgh-based Steel City to exit bankruptcy with a new balance sheet and with the Frischling family retaining equity control of the company.
A restructuring plan has just been filed with the FCC, and that’s exactly what Frischling’s two entities in Southwest Pennsylvania and in Kansas City seek to accomplish.
