Rocking M Media and its associated companies that own 21 stations in central and western Kansas has filed for Chapter 11 bankruptcy protection.
The bankruptcy filing is for Rocking M Media and subsidiaries Rocking M Media Wichita, Rocking M Radio and Melia Communications. A 37-page filing was submitted on Saturday (3/26) with the U.S. Bankruptcy Court in Kansas City; docket information became available late Monday (3/28). In the petition Rocking M claims $1,307,696.75 in assets and $22,365,886.40 in liabilities owed between its four holding companies.
Bankruptcy attorney Sharon Stolte of Sandberg Phoenix & von Gontard, who is representing the company, told the Wichita Eagle that �We filed on Saturday, and we are hoping to reorganize. We will sell some of the stations that we find are not profitable, and we will reorganize the debt with the remaining stations.�
The family-owned company traces its origins back to the 1900s, beginning with the Bellville Telescope newspaper. CEO Monte Miller and his wife Doris formed Rocking M Media in 2007 with their son Christopher serving as President.
The bankruptcy filing blames the son for the rapid expansion of the company that brought on a number of issues, according to the Wichita Eagle. Christopher Miller was removed from the company in 2019. The company also blames the pandemic for its current financial issues.
Now, Doris and Monte Miller wish to move forward, with a clean slate that will perhaps hit the refresh button for a company in operation for some 140 years.