High Plains Radio Network has filed for Chapter 11 bankruptcy protection in the Northern District of Texas.
The company, founded and led by Monte Spearman, is claiming both assets and liabilities worth between $1 million and $10 million. Many of its stations have been silent over the past couple of years, with a few having their licenses cancelled in the past two years. The company’s 980 KICA Clovis NM and 98.3 KICA-FM Farwell TX were cancelled earlier this month after losing their tower leases at the end of 2022. 92.5 KKRE Hollis OK was cancelled last month after being silent for over a calendar year.
The company filed last July to sell thirteen of their stations in Arkansas and Mississippi to Jay Brentlinger’s Broadcast Industry Group for $3.5 million, but the sale was withdrawn a few weeks later. A similar sale between the parties failed to close in 2020.
High Plains Radio Network currently holds licenses in Arkansas, Colorado, Mississippi, Oklahoma and Texas.
