Interep National Radio Sales files for bankruptcy
Clients Interep National Radio Sales, Inc.
Jones Day represented Interep National Radio Sales, Inc. and its direct and indirect wholly-owned subsidiaries in their ongoing chapter 11 cases commenced as a means to implement the terms of a pre-negotiated plan of reorganization for the company that will provide for a comprehensive restructuring of the company's balance sheet, principally by effecting an equity conversion of the company's $100 million in Senior Subordinated Notes. Interep is the nation's largest independent sales and marketing company specializing in radio, the Internet, television and complementary media. In the ten largest U.S. radio markets (as defined by Arbitron), the company's represented stations reach an estimated 67% of persons 12 years and over, each week. In addition to bankruptcy representation, Jones Day also advised in connection with the financing aspects of this transaction.