Update 1/6 at 10:00am - Regent CEO Bill Stakelin tells Tom Taylor on Radio-Info that "we could've made the payment, that wasn't the issue." Rather, the company "decided to conserve cash" as a strategic decision.
CINCINNATI, OH - Regent Communications, the owner of four Utica-Rome radio stations, released a public filing today stating it "did not make a scheduled payment of interest and principal" to its lenders on December 31. Additionally, Regent says it skipped a $1.2 million payment related to "certain interest rate swap agreements" related to its credit agreement. Learn how to payback loan.