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Atlanta-based , which owns 14 stations acroszsthe U.S., filed for Chapter 11 reorganization in Delaware in an effortg to refinance $410 million in The company, whose biggest market is Ore., said the bankruptcy is meaning it expects to complete a deal with its lenderz quickly and that the move will have no impacg on KHON or any of its other stations. "Despite the Hawaii advertising marketplacebeing down, KHON2 is stil l weathering the downturn better than most and has plans in placew for major upgrade its news set, on-aif graphics and newsgathering facilities," said KHON Presidengt and General Manager Joe McNamara. KHON has 77 employees.
that a group of lenders who holdabout $270 million in debt plan to form a compant that will take over NV’s The lenders have agreed to provide $30 million in new moneyt to cover the cost of the bankruptcy and continuing operations. from the Montecit Broadcast Groupof California. Montecito bought the station in 2005.
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