David Kuney, a bankruptcy lawyer at Sidley Austin, said on a panel at Monday’s NAB Show in Las Vegas that there may be a jump in broadcasters filing for bankruptcy this year and next, TVNewsday reports. Like the retail industry, many broadcasters need to consider restructuring financially, Kuney added on the panel about restructuring during a changing financial climate, the trade publication says. Declining sales and cash flow will require as many as 90 percent of radio and TV companies to renegotiate loan terms, said Mike Andres of BIA Capital Strategies, TVNewsday reports.
—Aimee Picchi