KDHX has named a national chain of contemporary Christian radio stations as its principal creditor while the community radio station goes through the Chapter 11 bankruptcy process, according to court filings.
St. Louis-based lawyer Andrew R. Magdy said in a court filing dated Monday that K-LOVE, which controls more than 500 radio stations in the U.S., is the proposed debtor-in-possession lender for KDHX.
That status means K-LOVE would loan KDHX the funds to continue operating while it negotiates with other creditors. It also makes the DIP lender among the among creditors to pay off. Other creditors and a bankruptcy court judge need to approve the arrangement.
KDHX declined to comment. None of the station鈥檚 leaders has agreed to an interview with 漏 2024 外网天堂 since late 2023.
Court filings show that KDHX enters bankruptcy with at least $1 million in financial liabilities. Its largest outstanding debt is a $120,000 construction loan to Mark Hamlin, listed with an address in Lake Ozark. KDHX鈥檚 second-largest creditor is Brentwood-based , the public relations firm that has issued statements on behalf of KDHX since 2023. Six of the largest creditors are staff members, including Executive Director Kelly Wells, who is owed $73,381.
K-LOVE is owned by the Educational Media Foundation, a nonprofit organization with more than $1 billion in assets that states its mission is 鈥渢o draw people closer to Christ.鈥� It also owns Air1, WTA and Access More, which all create, distribute or promote Christian radio programming. K-LOVE has in recent years.
KDHX lawyer John M. Reynolds said in court last month that the station had less than $7,000 in cash at the time. Weeks later, the KDHX board turned down an offer by the activist group LOVE of KDHX to donate up to $200,000 if the station would agree to replace its board of directors and make other changes.
This story has been updated with KDHX declining a request for comment.
Correction: A previous version of this story misidentified the consulting firm AHC.
