Alpha Media reorganizes.

The small- and medium-market group, which owns 207 radio stations in the 44 markets—including my former stations in Fairfield, IA—has filed for Chapter 11 bankruptcy to reorganize and reduce debt. An agreement with a select group of lenders will also allow Alpha to raise additional capital to maintain operations and acquire other properties. The company says that it expects no disruption to its broadcast operations, customers, or employees.

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