James Crystal Radio Group files for bankruptcy
In late January, James Crystal Radio Group employees at News-Talker WFTL-AM 850 and sports Talk WMEN-AM 640 in South Florida said they had not been paid since 1/1, according to a Miami Herald story: “Gossip Extra has learned that the 75 or so employees of the stations, both owned by local radio pioneer Jim Hilliard’s James Crystal Radio Group, haven’t been paid since Jan. 1. Among the unfortunate workers: High-profile talkers Joyce Kaufman (850) and Sid Rosenberg (640).”
GM Steve Lapa told The Herald that the holder of a $17 million loan managed to freeze the group’s bank accounts, so there’s no cash coming out for things like payroll.
Now the company, including several others owned by Hilliard, have filed for Chapter 11 bankruptcy (1/29). Liabilities are listed as between $10 million and $50 million.