Radio Operator Gets $95 Million From Brigade to Repay Fortress

Alpha Media Holdings won court approval of a $115 million bankruptcy financing arrangement that will fully repay a Fortress Investment Group affiliate’s $90 million first-lien debt holdings.

• Brigade Capital Management will provide $95m of the financing, with $20m coming from the radio station operator’s junior lenders, court papers show
• U.S. Bankruptcy Judge Kevin Huennekens in a Tuesday bankruptcy hearing said he would approve the financing
• The deal comes after a heated first-day bankruptcy hearing last month which saw Fortress oppose a $5m interim financing package for Alpha
• Fortress worked to assemble its own financing package during the past month, which ...