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Regent Communications announced Tuesday that the U.S. Bankruptcy Court for the District of Delaware has confirmed the company's plan of reorganization.

"The reorganization plan will allow Regent Communications to emerge from Chapter 11, after only sixty days, with the financial flexibility necessary to ensure the continued pursuit of our strategic objectives," said Regent Presidemt/CEO Bill Stakelin. "This new capital structure will allow us to continue to invest in our operations and maximize our growth potential in the recovering advertising marketplace."

Regent Communications expects its plan to become effective on or about April 27, once all closing conditions have been met. All outstanding shares of the company's common stock will be extinguished on the plan's effective date. As provided in the plan, Regent expects that stockholders of record holding shares on that date will receive a distribution of approximately $0.128 per share by early to mid May.

Regent and its subsidiaries filed voluntary joint petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code on March 1. (04-13-10)

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