Peak Broadcasting Files For Bankruptcy
Peak owns six stations in Boise, including KIDO-AM, KFXD-AM, KSAS-FM, KAWO-FM, KCIX-FM KXLT-FM. The company picked up the six Boise stations from Clear Channel Communications in 2007. Peak also has stations in Fresno, CA (where it is based) and manages a group of stations in Chico, CA through a marketing agreement with Deer Creek broadcasting.
Despite the prepackaged Chapter 11 Bankruptcy filing the company says it will be business as usual. The bankruptcy plan allows for Peak to continue paying their employees, vendors, and other creditors. Chapter 11 generally allows a company to reorganize its debt and work to emerge with a healthier balance sheet, and differs from Chapter 7 which requires a company to liquidate its assets.
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