Posted by chicagomedia.org on May 22, 2010 at 14:40:27:
In Reply to: Bill Kurtis files bankruptcy posted by Bud on May 13, 2010 at 11:46:17:
We received the following e-mail from Chris Oldroyd, Court Appointed Receiver for Tallgrass Broadcasting, LLC:
"Mr Kurtis nor Tallgrass Broadcasting have filed for Bankruptcy. A correct statement would
be that the company has gone into Receivership.
A Receivership on some occasions will lead to bankruptcy, or in cases such as this one, allow the bank to intercede to assist in running the organization back into health. As Court Appointed Receiver for Tallgrass, I can assure you there have been no filings relating to Chapter 7 or Chapter 11 at this time by Tallgrass Broadcasting, and as far as I am aware Mr Kurtis has not made any personal filings."
: Another radio station group has fallen into bankruptcy. This time, it is one co-owned by a beloved Chicago icon. Tallgrass Broadcasting, LLC, which is owned by broadcasting giant Bill Kurtis and his business partner Joe Walker, has now gone into receivership. The court has appointed a new trustee for the company, Chris Oldroyd, who will be overseeing the company while working with the principle lender, SpiritBank of Tulsa to help restructure the company and its heavy debt. Tallgrass Broadcasting owns and operates radio stations in Kansas, Missouri, New Mexico, Oklahoma, and Texas. The company is based in locally in suburban Hoffman Estates.