BANKRUPT COMPANY SELLS 5 LOCAL RADIO STATIONS

The Press of Atlantic City reports that Atlantic Broadcasting sold it’s five local radio stations on Wednesday. The stations were sold for $4 million, but the name of the bidder was not released. The transaction will be approved in Bankruptcy Court today in Camden, when details of the sale will become public. According to the report, Atlantic Broadcasting was forced to file bankruptcy in December, with a debt load of about $8 million.