We just got word that Regent Communications, based in Cincinnati, has filed for Chapter 11 reorganization this morning.
Radio-Info.com reports that shareholders of Regent stock will receive 12.8 cents for every share they own. Oaktree Capital will gain control of the company but the top management team will remain in place and day-to-day operations will continue as normal.
You'll recall we've mentioned Regent a time or two, as their stock price has been...well, at rock bottom.
So, this may help them get back to some measure of profitability...but it certainly isn't going to occur overnight...
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