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IN RE SOUND RADIO, INC.

Bankruptcy No. 84-06261.

145 B.R. 193 (1992)

In re SOUND RADIO, INC., t/a WNJR Radio, 1430, a corporation of the State of New Jersey.

United States Bankruptcy Court, D. New Jersey.

September 8, 1992.

Attorney(s) appearing for the Case

Jerome J. LaPenna, Jerome J. LaPenna & Associates, Clifton, N.J., Managing Agent, Oliver Lofton, Lofton & Wolfe, Newark, N.J., for debtor-in-possession.

Harry Heher, Jr., Heher, Clarke & St. Landau, Princeton, N.J., for shareholders other than Daniel Robinson.

Lindsay Taylor, Friedman Siegelbaum, Roseland, N.J., for Daniel Robinson.

Sherry Kajden, Buchanan Ingersoll P.A., Philadelphia, Pa., for Sheridan Broadcasting Corp.

AMENDED OPINION

WILLIAM H. GINDIN, Chief Judge.

PROCEDURAL HISTORY AND JURISDICTIONAL STATEMENT

Sound Radio, Inc. (the "debtor-in-possession") is a corporation which manages and controls WNJR, a radio station presently located in Hillside, New Jersey. The debtor-in-possession filed for protection under Title 11 of the United States Code on November 30, 1984.

In addition to the bankruptcy proceeding, two complaints were filed in the Chancery...

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