Friday, January 24, 2014

VA Radio: FLS, Star Radio Group Files For Bankruptcy

The Free Lance–Star Publishing Co. filed a Chapter 11 bankruptcy petition Thursday, according to

The company filed the petition in the U.S. Bankruptcy Court in Richmond  together with William Douglas Properties LLC, a related entity that owns a portion of the land upon which the FLS operates parts of its business.

This filing signals the end of the Rowe family’s 130-year ownership of the local media company, which developed a reputation for integrity, credibility and innovation in the Fredericksburg region and throughout the industry.

“The filing isn’t expected to have any immediate effect on the company’s employees, customers, advertisers or vendors,” FLS Publisher Nick Cadwallender said.

Cadwallender said he and  all FLS directors plan for the newspaper and its related digital products to continue to be created and delivered, and the company’s radio stations to continue to operate seamlessly during the Chapter 11 process.

The primary expected change will be in the ownership of the company—whose assets include the newspaper,,, Country WFLS 93.3 FM, Top40 WVBX 99.3 FM The Vibe, Classic Rcoker WWUZ 96.9 FM , and WNTX, Print Innovators, several real-estate properties in the city and a host of additional digital products.

WFLS 93.3 FM 54dBu Coverage
Representatives for The Free Lance–Star Publishing Co. will Friday ask a bankruptcy court judge in Richmond to allow the company to keep operating as normal.

The FLS is now considered a debtor in possession, meaning it will continue to publish newspaper and Web content, operate radio stations and more as it restructures in bankruptcy court.

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