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BrauBlog

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    KQRS, 93X parent Citadel Broadcasting files bankruputcy

    By David Brauer | Published Sun, Dec 20 2009 1:48 pm

    Will Tom Barnard's big paychecks take a hit? Probably not, but the Las Vegas-based broadcaster finally crapped out at debt roulette. Assets of $1.4 billion, debt of $2.46 billion. Ouch.

    In this market, Citadel also owns Love105, and controls about 18 percent of the Twin Cities radio market, share-wise. The bankruptcy petition is here. Insiders have expected the filing for a long time, by the way.

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    minnpost.com/braublog

    David Brauer authors Braublog and is MinnPost's local media reporter. He's covered media and politics as a writer and editor since 1983 for City Pages, the Southwest/Downtown Journal, KFAN and KSTP-AM, Mpls.St.Paul, Minnesota Monthly, Law & Politics, the Business Journal, KARE11 and national outlets. Follow him on Twitter. Email: dbrauer [at] minnpost [dot] com. 

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