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Outdoor Advertiser/Radio Owner NextMedia Exits Bankruptcy

By Rachel Kaufman on June 1, 2010 2:44 PM

NextMedia, which owns 33 radio stations in eight states, exited bankruptcy today, the company reported today.

No layoffs were associated with the Chapter 11 filing, said Steve Dinetz, President and CEO, in a statement, and the bankruptcy took six months to resolve.

Meanwhile, Citadel Broadcasting, which filed for bankruptcy one day before NextMedia, “should be exiting Chapter 11 any day now as well,” says Radio Business Report.

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