Latest news with #ChapterEleven
Yahoo
16-04-2025
- Business
- Yahoo
KDHX supporters make plea to stop sale of station; JOY! FM joins bidding war
ST. LOUIS — On Wednesday morning, a court hearing took place regarding the sale of KDHX to Gateway Creative Broadcasting Inc., which owns two Christian networks, K-LOVE Inc. and JOY! FM. More than a dozen listeners and former volunteers for KDHX sent a request to a federal bankruptcy judge in an attempt to stop the sale of KDHX to K-LOVE Inc. ahead of Wednesday's hearing that could approve the final sale. In early April, KDHX, the 88.1 FM radio station, began broadcasting for a Christian network, K-LOVE, Inc., following the station's bankruptcy. Last month, the community radio station announced it had sold its FCC license and broadcast tower in an agreement signed with K-LOVE Inc. St. Louis Blues clinch spot in 2025 Stanley Cup Playoffs According to our partners at the St. Louis Post-Dispatch, Gateway Creative Broadcasting Inc., which also owns 99.1 JOY! FM, filed a motion in U.S. Bankruptcy Court on Monday offering to buy KDHX's assets for $5.5 million, which is over a million more than what K-LOVE initially offered. In March, K-LOVE agreed with KDHX to buy the assets for $4.35 million. The Post-Dispatch reports the price would increase to $4.85 million if the sale could be completed in less than 6 months and decrease to $4.6 million if it could be done in six months to one year. In a filing on Monday, Gateway said it had first offered to purchase the KDHX license and assets for the $5.5 million back in December. The letter of intent from December also included a $400,000 loan so the station could continue broadcasting until the sale was complete. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now The Post-Dispatch reports that Gateway's filing on Monday included a $500,000 loan and said it would be equal to or better than the term of the loan made by K-LOVE. In March, KDHX filed for Chapter Eleven bankruptcy, which stemmed from a period when the radio station lost 24 of its 80 volunteer disc jockeys in September 2023 due to firings or walkouts, impacting its revenue. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
26-03-2025
- Entertainment
- Yahoo
End of an era? KDHX license, tower sold
Editor's note: This footage is from Feb. 15, 2025 ST. LOUIS – The end of an era is looking clear for longtime listeners of KDHX. Board directors of Double Helix Corporation announced its decision to sell its FCC license and broadcast tower today. An agreement was signed with K-LOVE, Inc, and the board claims it asked the U.S. Bankruptcy Court for approval. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now The board says this decision was in response to the evolution in the landscape of media while also maintaining financial independence. 'Careful thought was given to the decision to sell assets, and many factors were considered,' the corporation stated. 'Double Helix was able to negotiate an offer that exceeds expected market value at a time when the value of broadcast licenses is declining.' On March 11, KDHX filed for Chapter Eleven bankruptcy, which stemmed from a period when the radio station lost 24 of its 80 volunteer disc jockeys in September 2023 due to firings or walkouts, impacting its revenue. Despite the decision to sell the license, Double Helix reassured that KDHX will continue. '(This decision) is a transformation that allows us to continue our mission in new and sustainable ways,' the corporation shared. 'While we don't yet know all the ways we will do that, we look forward to a time of gathering input from volunteers, listeners, content creators and industry leaders to help shape this future.' Rapper GloRilla ends St. Louis show early after several fights break out Double Helix says that it can save over $500k, which can go to infrastructure repairs and support future projects. The corporation also noted that this transition allows the opportunity to reinvest in innovative programming, expand its digital presence, and foster community engagement. 'While the medium may change, our mission remains the same—to build community through media, driven by the voices, stories and creativity of those we serve,' Double Helix concluded. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
11-03-2025
- General
- Yahoo
KDHX files for Chapter 11 bankruptcy
ST. LOUIS – Community radio station KDHX has filed for Chapter Eleven bankruptcy, allowing it to continue operations while restructuring its debts. The filing comes after a tumultuous period for the station, which saw the loss of 24 of its 80 volunteer disc jockeys in September 2023 due to firings or walkouts, significantly affecting its revenue. In January of this year, 16 former volunteers filed a lawsuit against KDHX, adding to the station's financial and operational challenges. 'Just feces everywhere': Residents seek answers after sewer backup destroys basements Following these events, KDHX made the decision to let go of all its 115 volunteers and began airing pre-recorded shows from its archives. The future of KDHX remains uncertain as it navigates the bankruptcy process and attempts to resolve its financial difficulties. This article was converted into this format with assistance from artificial intelligence. All facts from this article were gathered by KTVI journalists. It has been edited and approved by KTVI staff. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
