Monday, October 6, 2008

Texas bankruptcy court

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The founders of the Darlington-based group, established in 2002, include Nigel Reeve, the launch sales and marketing director of Classic FM.
A spokeswoman for media regulator Ofcom said it was 'monitoring developments closely'.
The petition was brought by Gateshead-based venture capitalist Capital North East No.1 Limited Partnership. It will be heard before a judge in the high court in Leeds on October 14.
All of the stations are understood to be still broadcasting, but several of the group's websites have been taken down pending a redesign.
An Ofcom spokeswoman said: 'We are aware that a petition to wind up Laser Broadcasting is due to be heard next week, and we are monitoring developments closely.
'The company is keeping us fully informed, and is seeking to ensure that the radio stations are able to continue broadcasting in the best interests of their staff and listeners.
'In these circumstances, until the winding-up order is heard by the court next week we are aware that the stations may not be able to fully comply with their format requirements




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