More than a year after Rocking M Media filed for chapter 11 protection, the company told a bankruptcy court that it is working on a new plan for how it will emerge from the process, InsideRadio reported. The move came as several creditors and the U.S. Trustee continue to object to the outline provided by the company. The Federal Communications Commission (FCC) is also asking the court not to wipe away the agency’s pending claim against Rocking M. The FCC has been investigating the broadcaster for several alleged violations of Equal Employment Opportunity regulations. The FCC has asked that its claim of up to $990,936 be preserved. The investigation currently covers 18 potential violations, which carry a maximum statutory forfeiture of $55,052 per violation. Rocking M has asked the court to reject the FCC claim, or order it to be amended. The FCC said that request is “premature” and argues that it should not be forced to turn over documents about its investigation. Rocking M Media sought chapter 11 protection in March 2022 when it told court that it had nearly $8.5 million in outstanding debts and assets worth less than $1 million. The 22-station Kansas group held an auction last summer to sell a dozen stations in order to raise cash, which brought in $1,988,674. However, the auction tally fell short of the money owed to debtholders, leaving open the possibility that Rocking M may be forced to sell other radio assets as part of the bankruptcy process.
