Popular radio station near bankruptcy

One of Radio 100’s biggest investors says he is pulling his support from the financially troubled station Radio 100, Denmark’s most popular privately-owned radio station, is in severe financial trouble and is now asking its creditors to step in to...

Radio 100, Denmark’s most popular privately-owned radio station, is in severe financial trouble and is now asking its creditors to step in to help pay its bills, reports Berlingske Tidende newspaper.

According to Berlingske Tidende’s information, the serious problems for Radio 100 began when John de Mol, the Dutch media mogul, said he was pulling out as one of the station’s top investors. De Mol has lost more than 300 million kroner on Radio 100 since 2003.

‘As I see it we have three possibilities,’ said Jim Receveur, Radio 100’s managing director. ‘John de Mol can change his mind and continue to invest in us, we can find new investors, or another company takes over the station.’

Last Wednesday the station was supposed to have given performing artist and record company representative Gramex around one million kroner in royalty payments, but the bill is still unpaid. It is not known how many more of Radio 100’s recent invoices have not yet been paid.

But Receveur said he hopes the station can weather the storm.

‘We’re going through all our bills and making a list of our creditors to see what our possibilities are,’ he said. ‘But if it ends up being too big of a project, then we’ll have to consider filing for bankruptcy.’

Gramex indicated it would be speaking to Receveur about the situation. In the meantime, Receveur said he was looking for new investors to help keep the station afloat.

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